Bayer close to choosing banks for Monsanto bid

Huge bid: File picture showing the plant of German pharmaceuticals and chemicals giant Bayer in Leverkusen, western Germany.Monsanto said that while the original RM62bil offer was inadequate, it is open to further negotiations. – AFP

It is confident of deal despite rejection of US$62bil offer

LONDON: Bayer AG is close to choosing banks to arrange funds for its proposed acquisition of Monsanto Co, according to people familiar with the matter, after the US company rejected the initial US$62bil bid as too low and sought reassurances on the potential financing.