- Monsanto (NYSE:MON) now +17.7% premarket as Bloomberg reports that Bayer (OTCPK:BAYZF, OTCPK:BAYRY) is exploring a $40B takeover bid for the company.
- Bayer has held preliminary discussions internally and with advisers about how to finance a deal, including potential asset sales, according to the report.
- MON already was moving higher after StreetInsider reported interest in the company from BASF (OTCQX:BASFY).
- A deal would create the world’s largest supplier of seeds and farm chemicals, and boost Bayer and MON amid a wave of consolidation in the industry after Dow Chemical and DuPont announced last year plans to combine operations in a $130B deal while ChemChina agreed in February to buy Syngenta for $43B.