Bayer proposes to acquire Monsanto

Bayer AG has approached Monsanto Co. about a takeover, The Wall Street Journal reports.

Last week, Bloomberg cited anonymous sources in reporting the German firm was mulling a bid for the St. Louis-based competitor.

The deal could be valued at more than $42 billion. If the acquisition were finalized, it would create the world’s largest seed-and-pesticide company.

Read more from The Wall Street Journal.