Monsanto rallies 17% premarket on BASF, Bayer takeover speculation
Monsanto Co. jumped 17% in premarket action on Thursday amid rumors German chemicals giants BASF SE or Bayer AG are mulling a takeover of the St. Louis-based agriculture company. Streetinsider.com said late Wednesday BASF is working with investment banks to advise on a potential takeover of the Roundup maker. Thursday, however, Bloomberg News reported that Bayer is exploring a $40 billion bid for Monsanto. Representatives from BASF and Bayer declined to comment and Monsanto wasn't immediately available to comment. The takeover speculation comes after Bloomberg reported in March that Monsanto was looking to do possible deals with BASF and Bayer AG . Monsanto was vying to buy Syngenta AG earlier in the year, but the Swiss pesticide and seed company was snapped up by China National Chemical Corp. in a $43 billion deal.
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