Germany-headquartered Bayer AG has made an open offer to acquire 26 per cent additional stake in Monsanto India.
Bayer AG, along with its Indian arm Bayer CropScience, has proposed to buy up to 44,88,315 shares worth ₹1,314 crore of Monsanto India at a floor price of ₹2,926.87 a share.
The open offer will be open on August 24 and close on September 6. The open offer was mandatory following Bayer group’s $63-billion global deal to acquire Monsanto on June 7.