UPDATE: Bayer Said to Make Improved $129/Share Bid for Monsanto (MON) - Bloomberg

September 13, 2016 2:25 PM EDT

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(Updated - September 13, 2016 2:30 PM EDT)

Bayer is proposing increasing its offer to acquire Monsanto (NYSE: MON) to $129 per share, according to Bloomberg sources. The breakup fee will double to about $3 billion.

Monsanto's board will meet Tuesday to discuss the proposal, and Bayer's board will meet Wednesday to approve the deal. An announcement could come shortly thereafter, the report said.

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