Monsanto Company (MON) - NYSE
  • Wed, Jul. 20, 8:57 AM
    • One of Bayer's (OTCPK:BAYRY) top 20 shareholders says it may make sense to launch a hostile takeover bid for Monsanto (NYSE:MON) after the U.S. company rejected a sweetened $125/share offer yesterday.
    • "Such a move would be seen as hostile but could put pressure on Monsanto's management to grant Bayer access to its books," Markus Manns of Union Investment tells WSJ; Union is Bayer's 14th largest investor with a 0.7% stake.
    • Manns says Bayer has room to improve its offer to a maximum of $135/share, but a higher number would make an acquisition too much of a financial risk; he does not agree with fellow investor Henderson Global Investors, which is urging Bayer to put the deal to a shareholder vote.
    | Wed, Jul. 20, 8:57 AM | 5 Comments
  • Tue, Jul. 19, 8:13 AM
    • Monsanto (NYSE:MON) -1.6% premarket after rejecting Bayer’s revised takeover proposal is "financially inadequate and insufficient to ensure deal certainty."
    • However, MON says it "remains open to continued and constructive conversations with Bayer and other parties" to assess whether a deal can be fulfilled in the best interest of its shareowners.
    • The rejection should not come as a surprise, since most observers have believed MON would require a better offer than $125/share before agreeing to a sale (I, II, III).
    | Tue, Jul. 19, 8:13 AM | 5 Comments
  • Tue, Jul. 19, 7:57 AM
    • Bayer (OTCPK:BAYRY) investor Henderson Global Investors is demanding a vote on the company's $64B-plus proposed takeover of Monsanto (NYSE:MON), marking the strongest opposition from the investor base against the deal.
    • Henderson, one of Bayer's 20 largest investors with a 0.7% stake, says the bid for MON represents "a major departure from a strategy of focus and integration of existing acquisitions" that Bayer had consistently communicated to the market for a number of years.
    • Henderson also says the deal terms reflect a very high valuation multiple and the deal could constrain investment in the pharma division.
    • Bayer has repeatedly said it does not need shareholder approval for the deal, which would make any dissenting move more complicated.
    | Tue, Jul. 19, 7:57 AM | 5 Comments
  • Mon, Jul. 18, 5:19 PM
    • Monsanto (NYSE:MON) is negotiating terms on a confidentiality agreement with Bayer (OTCPK:BAYRY) that would allow extensive due diligence, a move that may indicate some progress as a result of Bayer's latest takeover offer, Reuters reports.
    • Access to confidential information has been a major sticking point in Bayer's negotiations with MON ever since it extended its first takeover offer in May.
    • MON would still require Bayer to raise its offer further in order to agree to a sale, according to the report.
    • Bayer last week improved its offer to $125/share in cash from $122 and offered a $1.5B reverse antitrust breakup fee.
    | Mon, Jul. 18, 5:19 PM | 4 Comments
  • Mon, Jul. 18, 11:14 AM
    • 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.
    | Mon, Jul. 18, 11:14 AM | 14 Comments
  • Fri, Jul. 15, 5:14 AM
    • Even though Bayer (OTCPK:BAYRY) has sweetened the pot in its attempt to win Monsanto (NYSE:MON), analysts suggest the company is likely to reject the roughly $65B offer and could pursue other transactions such as combining with BASF's (OTCQX:BASFY) agro-chemicals unit.
    • "I don't think they believe selling for $125 (per share) today is in the best interests of shareholders... and I do believe they are still considering being a consolidator and not a consolidee," said Chris Kapsch, analyst at BB&T Capital Markets.
    | Fri, Jul. 15, 5:14 AM | 13 Comments
  • Thu, Jul. 14, 12:12 PM
    • Monsanto (MON +3.2%) spikes higher after Bayer (OTCPK:BAYRY -0.6%) says it increased its takeover offer for the company to $125/share, after its initial $122 bid was rejected.
    • The new offer may make a takeover more palatable for MON shareholders but also prompt concerns among Bayer investors about the German company's deepening financial strain.
    • Bloomberg reported yesterday that MON had revived talks with BASF (OTCQX:BASFY +3.4%) about a possible combination of their agrochemicals businesses.
    | Thu, Jul. 14, 12:12 PM | 22 Comments
  • Wed, Jul. 13, 5:17 PM
    • Monsanto (NYSE:MON+1.7% AH following a Bloomberg report that it could look to acquire BASF's (OTCQX:BASFY) agrochemicals unit as an alternative to the proposed and rejected takeover offer from Bayer (OTCPK:BAYRY).
    • MON is exploring various transactions, including the potential acquisition of BASF’s ag solutions unit, and in return, BASF likely would receive newly issued shares in MON, according to the report.
    • MON’s board is said to be split over the merit of potential deals with rivals BASF and Bayer, with some execs eager to remain independent while others prefer a takeover.
    | Wed, Jul. 13, 5:17 PM | 12 Comments
  • Wed, Jun. 29, 6:27 PM
    • Monsanto (NYSE:MON) finished 2.4% higher in today's trade even after FQ3 earnings fell short of expectations, as some observers expect the weak results to help push the company into a deal with Bayer (OTCPK:BAYRY).
    • "The combination of weak results and a weaker than expected outlook suggests a more conciliatory tone will be taken to merger proposals," says Jefferies analyst Laurence Alexander, who expects "a modestly better proposal (e.g. break-up fee, antitrust tactics) before Monsanto's annual meeting" in January.
    • MON is playing a weak hand, Bloomberg's Chris Hughes writes, as a stronger set of numbers would have given Bayer an impetus to raise its buyout offer, but for now, Bayer's only reason for doing so is fear that MON might do a deal with someone else, such as Bayer's German rival BASF.
    • Even so, Germany newspaper Handelsblatt reported today that MON has demanded that Bayer increase its takeover offer by $10-$15/share, which would lift MON's valuation to $67B-$69B from Bayer's rejected $62B; the report also said the U.K.'s vote to leave the EU could put Bayer's planned financing of the deal into question.
    | Wed, Jun. 29, 6:27 PM | 17 Comments
  • Wed, Jun. 29, 7:58 AM
    • The European Union's antitrust agency indicates it would conduct a strict review of Bayer's (OTCPK:BAYRY) pending $62B purchase of Monsanto (NYSE:MON), an unusually early statement before the EU has received formal notification of a deal.
    • "In our investigation, we will take into account your concerns about the effects of the Bayer-Monsanto merger on prices, the variety of available seed products as well as research and innovation," EU antitrust head Margrethe Vestager said in a letter to two members of the European Parliament, posted on the Green Party's website.
    • Vestager also suggested the EU would consider the context that several mergers in the sector would be taking place at the same time; Bayer's bid comes as other rivals including Dow Chemical, DuPont and Syngenta also have made plans to merge, which could mean that some markets already may be more concentrated by the time Bayer formally notifies EU regulators of any deal.
    | Wed, Jun. 29, 7:58 AM | 9 Comments
  • Fri, Jun. 17, 12:24 PM
    • Bayer (OTCPK:BAYRY -0.9%) is in talks with investment banks about exploring strategic alternatives for its radiology supplies business, including a possible sale that could fetch more than $3B, Reuters reports.
    • Bayer has said it does not need to sell assets to finance its $62B bid for Monsanto (MON +0.4%), and that the strategic reviews of its businesses would continue as usual.
    | Fri, Jun. 17, 12:24 PM | 3 Comments
  • Tue, Jun. 14, 6:57 PM
    • UBS reiterates Monsanto (NYSE:MON) with a Buy rating but raises its stock price target to $122 from $97, as the firm now expects Bayer (OTCPK:BAYRY) to buy the company for at least that price.
    • The firm says it is confident in the high value of MON's leading positions in seeds and pesticides, and believes Bayer easily could propose a higher price than $122, especially if MON agrees to provide more data.
    • Separately, Bloomberg reports that MON and Argentina’s government have reached a final agreement on soybean seed royalty payments that is expected to be enacted by June 21, citing three government officials (earlier).
    | Tue, Jun. 14, 6:57 PM | 14 Comments
  • Fri, Jun. 10, 2:42 PM
    • Monsanto (MON -1.5%) turns sharply lower following a WSJ report that it rejected a new takeover offer from Bayer (OTCPK:BAYRY -3.4%), in part because it did not include a higher price.
    • Bayer recently sent a letter to MON seeking access to information which could prompt it to raise its $62B offer but MON refuses to grant access until Bayer raises its offer, according to the report.
    • In the letter, Bayer reportedly said it had lined up financing for the deal and is confident any regulatory obstacles can be overcome.
    | Fri, Jun. 10, 2:42 PM | 31 Comments
  • Thu, Jun. 2, 6:47 PM
    • Bayer (OTCPK:BAYRY) has secured ~$63B in financing from five banks for its proposed acquisition of Monsanto (NYSE:MON), Bloomberg reports.
    • Bayer has selected Bank of America, Credit Suisse, Goldman Sachs, HSBC and JPMorgan Chase to each provide ~$12.5B in short-term loans, with an option to be increased should Bayer decide to increase its current offer of $122/share, according to the report.
    • A separate report from the German newspaper Handelsblatt said Bayer had secured €60B ($67B) in loans, which could be increased to €75B if it decides to raise its offer.
    • Bayer appears to be attempting to ease MON's reported concerns about financing a deal, which would be the largest this year and biggest ever by a German company.
    | Thu, Jun. 2, 6:47 PM | 38 Comments
  • Tue, May 31, 12:19 PM
    | Tue, May 31, 12:19 PM | 11 Comments
  • Fri, May 27, 5:38 PM
    • Bayer (OTCPK:BAYRY) is close to selecting banks to arrange funding for its proposed acquisition of Monsanto (NYSE:MON) after the rejection of its initial $62B bid as too low, Bloomberg reports.
    • Bayer likely will raise more than $40B in short-term bridge financing and most of the remainder in term loans, according to the report.
    • Providing the terms of the funding may help ease MON’s concerns about financing and allow talks to advance on Bayer’s bid to become the world’s biggest supplier of farm chemicals and seeds.
    | Fri, May 27, 5:38 PM | 21 Comments
Company Description
Monsanto Co. provides agricultural products for farmers. Its seeds, biotechnology trait products, and herbicides provide farmers with solutions that improve productivity and produce better foods for consumers and better feed for animals. Monsanto operates its business through the following... More
Industry: Agricultural Chemicals
Country: United States