Monsanto said: "In response to recent media reports, Monsanto Company (NYSE: MON) disclosed that it has received an unsolicited, non-binding proposal from Bayer AG for a potential acquisition of Monsanto, subject to due diligence, regulatory approvals and other conditions. The Board of Directors of Monsanto is reviewing the proposal, in consultation with its financial and legal advisors. Monsanto will have no further comment until its Board of Directors has completed its review. There is no assurance that any transaction will be entered into or consummated, or on what terms."
Bayer said it "recently met with executives of Monsanto to privately discuss a negotiated acquisition" to create "a leading integrated agriculture business".
Rivals Dow Chemical (to DuPont), DuPont (to BASF) and Syngenta (to ChemChina) have all entered mergers recently.
Meanwhile, re-registration of glyphosate may be delayed, reports suggest. Some countries are suggesting they may not vote at today's EU meeting on re-registrating the chemical. Asa Romson (Sweden's minister for the environment) tweeted: "Sweden will not vote yes to COM proposal on glyphosate at today's meeting."