New York - Monsanto rejected on Tuesday the proposed acquisition by Bayer of $ 65 billion, ranking it as "financially inadequate" and "insufficient to ensure safety."
The US giant, however, remains open to discussing an alliance with the German company "and elsewhere."
Last week, Bayer increased its offer for Monsanto in an attempt to overcome the company's resistance to the merger and participate in a consolidation in the agriculture sector.
Last week, the company said it made a new offer to acquire Monsanto $ 125 per share. The previous offer of $ 122 per share, or about $ 62 billion, was rejected by Monsanto, which considered low.
According to Bayer, the new proposal was made on July 1, after private talks between the two companies.
Bayer also said he offered to pay a fine of US $ 1.5 billion if the transaction is not approved by regulators.
Bayer is seeking what would be the latest merger of a number of billionaires agreements in the global seeds and agrochemicals, which has struggled with falling crop prices.
Dow Chemical and DuPont closed a merger agreement in December. Swiss Syngenta, which probed Monsanto unsuccessfully last year signed an agreement in February and was acquired for $ 43 billion by Chinese Chemical Corp., or ChemChina.
Source: Dow Jones Newswires.
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