Monsanto , the world's largest seed company, has turned down Bayer AG's $62 billion acquisition bid as "incomplete and financially inadequate." But as Hayley Platt reports, it is open to further negotiations. It was a healthy offer but clearly not enough for U.S seeds firm Monstanto.
It's turned down the $62 billion bid by Germany's Bayer saying it was "financially inadequate"
It's left the door open but some say not wide enough.
Some of Bayer's shareholders think the offer - already a third higher than Monsanto's stock value prior to news of the deal - was too high.
They're worried Bayer is taking on too much debt and leaving its comfort zone.
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Both sides see value in some sort of consolidation as low commodity prices hit farm incomes.
But Monsanto won't say what price it wants and Bayer may not be willing to pay it.
