- Monsanto (MON +0.2%) will not sell itself for less than $130/share, which concerns Bayer (OTCPK:BAYRY -0.7%) investors who worry about the price that could be needed to get the deal done, Handelsblatt reported overnight.
- Last week, Bayer sweetened its offer to $125, which MON says it is evaluating after rejecting the company’s $122 offer in May.
- Analyst Brett Wong at Piper Jaffray says a price closer to $140 is needed to consummate the deal; portfolio manager Jim Russell of Bahl & Gaynor agrees, saying Bayer needs to come back at least once more with a higher price.