Bayer CropScience gains, Monsanto India tumbles

Bayer CropScience rose and Monsanto India declined at 12:09 IST on BSE on reports that Bayer AG's bid to acquire Monsanto Company was an all-cash offer valued at $62 billion.

Bayer CropScience was up 1.32% at Rs 3,950.05. Bayer AG is a parent firm of Bayer CropScience. It held 68.57% stake in Bayer CropScience as on 31 March 2016.

Monsanto India was down 6.71% at Rs 2,120.05. Monsanto Company is a parent firm of Monsanto India. It held 72.14% stake in Monsanto India as on 31 March 2016.

Meanwhile, the S&P BSE Sensex was up 18.94 points or 0.07% at 25,320.84.

According to reports, Bayer AG (Bayer) had approached Monsanto Company (Monsanto) about a takeover at $122 a share which is a 37% premium over Monsanto's closing price of $89.03 on 9 May 2016. Bayer would reportedly finance the deal with a combination of equity and debt.

Monsanto had last week announced that it had received an unsolicited, non-binding proposal from Bayer for a potential acquisition of Monsanto, subject to due diligence, regulatory approvals and other conditions.

Monsanto India is a seed company focusing on maize and agricultural productivity. The company's net profit declined 15.7% to Rs 40.76 crore on 15.4% growth in net sales to Rs 153.88 crore in Q3 December 2015 over Q3 December 2014.

Bayer CropScience has presence in seeds, crop protection and non-agricultural pest control. It is organized into operating units viz. crop protection, seeds and environmental science. The company's net profit fell 62% to Rs 16.50 crore on 7.4% decline in net sales to Rs 500.80 crore in Q4 March 2016 over Q4 March 2015.

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