Bayer AG officials are “disappointed in Monsanto’s decision to reject its increased all-cash offer of USD 125 per share” made public last week.

Monsanto’s Board of Directors unanimously rejected Bayer’s proposal as “financially inadequate and insufficient to ensure deal certainty.”
The offer represents a 40 percent premium over Monsanto’s closing share price on May 9, 2016. In addition, Bayer has offered a USD 1.5 billion reverse antitrust break fee, reaffirming its confidence in a successful closing.

Both companies say they are looking forward to continued dialogue.