Monsanto calls Bayer proposal 'incomplete'

Company open to further discussion despite "inadequate" offer.

Monsanto Co. said May 24 its board of directors unanimously views Bayer AG’s acquisition proposal as incomplete and financially inadequate. However, the company said it is still open to continued and constructive conversations to assess whether a transaction that's in the best interest of Monsanto shareowners can be achieved.

Bayer disclosed May 23 that it has made an all-cash offer to acquire all of the issued and outstanding shares of common stock o

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