Bayer Raises Monsanto (MON) Offer to $127.50/Share

September 5, 2016 10:20 PM EDT

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Bayer said it advanced negotiations with Monsanto (NYSE: MON) regarding a proposed transaction and is prepared to raise its offer to U.S $127.50/share, up from its prior offer of $125/share and the original $122/share offer.

The German pharmaceutical and crops manufacturer said key terms and conditions of a deal have not yet been agreed upon.

Monsanto has not yet addressed the latest offer and recent reports suggested it is holding out for at least $130 per share.

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