Monsanto rejects Bayer bid, but open to more talks
Monsanto Co , the world's largest seed company, turned down Bayer AG&039;s $62 billion acquisition bid as "incomplete and financially inadequate" on Tuesday, but said it was open to engage further in negotiations. Monsanto&039;s decision, first reported earlier on Tuesday by Reuters, puts pressure on Bayer to decide whether to raise its bid, even as the company faces criticism from some shareholders that its $122-per-share cash offer is already too high. The other options are to walk away, or mount a hostile bid.
