German drugs and chemicals group Bayer AG said it had made an offer to buy US seeds company Monsanto Co for $122 per share in cash, or a total value of $62 billion, to create the world’s biggest agricultural supplier.
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It said on Monday it planned to finance the deal with a combination of debt and equity, which would include a rights offering.
Monsanto had disclosed last week that Bayer had made an unsolicited takeover offer for the group.
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