Jefferies Upgrades Monsanto (MON) to Buy
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Monsanto Views Bayer’s Current Proposal as Incomplete and Financially Inadequate; Company Open to Discussing Potential Path Forward That Would Create Appropriate Value for Monsanto Shareowners
May 24, 2016 12:55 PM EDTST. LOUIS--(BUSINESS WIRE)-- Monsanto Company (NYSE: MON) today announced that its Board of Directors unanimously views the Bayer AG proposal as incomplete and financially inadequate, but is open to continued and constructive conversations to assess whether a transaction in the best interest of Monsanto shareowners can be achieved.
We believe in the substantial benefits an integrated strategy could provide to growers and broader society, and we have long respected Bayers business, said Hugh Grant, Monsanto Chairman and CEO. However, the current proposal significantly undervalues our company and also does not adequately... More
