Bayer may increase its bid for Monsanto

Bayer is examining Monsanto’s financial accounts, sources said, a crucial step that could pave the way for the German company to raise its $55bn (€49bn) takeover offer for the US agrochemicals giant.

Bayer has signed confidentiality agreements to conduct due diligence on Monsanto, a process that is expected to last a few more weeks, as it weighs the size and timing of a new bid, the sources said, adding no final decision on whether to improve the offer has been made.

Representatives for Leverkusen, Germany-based Bayer, and St Louis-based Monsanto declined to comment.