Bayer secures $63B in financing for Monsanto bid

Bayer AG has secured $63 billion in financing from five banks for its proposed buyout of Monsanto Co., people familiar with the matter told Bloomberg.

The German company picked Bank of America, Credit Suisse Group, Goldman Sachs, HSBC Holdings and JPMorgan Chase for loans of $12.5 billion apiece.

Monsanto has said the $63 billion figure is too low. However, the secured loans include options to be increased should Bayer bump up its offer for the St. Louis company.

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