German drug and chemicals giant Bayer AG has made an unsolicited takeover offer for Monsanto Co, the world's biggest seed company, as high inventories and low commodity prices spur consolidation in the global agrichemicals industry.
Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither released proposed deal terms.
With Monsanto worth US$42 billion by market capitalisation, an acquisition would likely be bigger than ChemChina's February deal to buy Swiss agrichemicals firm Syngenta AG for US$43 billion - a target Monsanto itself pursued last year - and could face US antitrust hurdles.
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Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither released proposed deal terms.
With Monsanto worth US$42 billion by market capitalisation, an acquisition would likely be bigger than ChemChina's February deal to buy Swiss agrichemicals firm Syngenta AG for US$43 billion - a target Monsanto itself pursued last year - and could face US antitrust hurdles.
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