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Germany's Bayer Makes $62 Billion Offer for Monsanto

German drug and chemicals company Bayer AG announced Monday that it has made a $62 billion offer to buy U.S.-based crops and seeds specialist Monsanto. The proposed combination would create a giant seed and farm chemical company with a strong presence in the U.S., Europe and Asia. Bayer said the all-cash offer values shares of Monsanto at $122 each. That compares with a closing price Friday of $101.52 and is 37 percent higher than the closing price of $89.03 on May 9,...

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