Monsanto Co , the world's largest seed company, will reject Bayer AG's $62 billion acquisition bid and seek a higher price, two people familiar with the matter said on Tuesday. Monsanto can see the logic of combining with the German drugs and crop chemicals group, and believes a deal could get the necessary antitrust and other regulatory approvals, the people said, leaving the door open for further negotiations. Bayer will now have to decide whether to raise its bid, even as the company faces criticism from some shareholders that its $122-per-share offer is already too high.
The world's largest brewer Anheuser-Busch InBev gained EU antitrust approval on Tuesday for its $100 billion-plus acquisition of SABMiller on condition it sell almost the whole of SABMiller's beer business in Europe. Reuters was the first to report that AB InBev's concessions to sell substantial assets would secure the EU green light for one of the largest corporate takeovers ever. AB InBev has already agreed to sell SABMiller's Peroni, Grolsch and Meantime beer brands to Japan's Asahi Group Holdings Ltd and to divest eastern European assets, three people familiar with the matter said on Friday.