LONDON, Sept 7 A top-30 investor in German
chemicals and crop pesticides firm Bayer said revised
terms aimed at securing a deal to buy U.S. rival Monsanto
were far too generous.
The investor, who declined to be named, said Bayer's revised
$127.50 a share offer for Monsanto would respresent a "heavily
overpaid" takeover, if the controversial deal should proceed.
The investor is one of a number of Bayer investors to flag
their opposition to the $65 billion-plus tie-up, with the
strategic rationale for a deal and the valuation both called
However, the investor expressed relief that the revised
offer on Monday was some distance from the $135-$145 pricetag
some analysts had estimated Bayer could end up paying.
"That seems less likely," the investor said in emailed
comments. "Bayer would need more equity which then would need
shareholder approval which would fail."
(Reporting by Simon Jessop, editing by Sinead Cruise)