Monsanto (MON) Approached by Bayer About Merger - WSJ

Bayer has approached Monsanto (NYSE: MON) about a takeover, the Wall Street Journal reported citing people familiar with the matter. The rumors follow a report last week from StreetInsider that BASF was exploring a bid, and a separate report from Bloomberg that Bayer was interested.

The Journal said details of the offer could not be learned and said it is unclear if Monsanto would be receptive to it.

Shares of Monsanto fell nearly 1% Wednesday after president and chief operating officer, Brett Begemann, called rumors of a bid from rivals Bayer AG or BASF SE "wild speculation."

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