Monsanto Rejects Bayer Offer as ‘Financially Inadequate’

Monsanto Co. rejected Bayer AG’s $55 billion takeover offer, leaving the German chemical giant to decide whether to raise its bid a second time in its quest to create the world’s largest producer of seeds and pesticides.

Monsanto said in a statement Tuesday that while the bid was “financially inadequate,” the company is open to further talks with Bayer and other parties about a deal. Bayer said it was “disappointed” in a statement, calling the revised all-cash offer a “compelling opportunity” that “represents immediate and certain value for Monsanto shareholders amid recent weak business performance.” The German company said it would continue in the talks.