Bayer in takeover bid for agriculture giant Monsanto

Bayer has made an unsolicited takeover offer for Monsanto in a bold attempt by the German company to snatch the last independent global seeds producer and become the world’s biggest supplier of farm chemicals.

The St Louis-based company, with a market value of $42bn (€37.2bn), said it’s reviewing the offer but didn’t disclose the terms of the proposal.

Bayer, confirming the bid, said the combination would bolster its position as a life sciences company.