Bayer offers $62B for Monsanto

German pharmaceutical giant Bayer AG today announced it offered $62 billion for St. Louis-based seed corporation Monsanto.

The combined company would be the world's largest agricultural supplier with a strong global presence in the United States, Europe and Asia.

The all-cash offer values Monsanto at $122 per share, a 37 percent premium over its May 9 closing price of $89.03. That was the day before Bayer sent a written proposal to Monsanto.

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