German pharmaceutical company Bayer offered Monsanto a 62-billion US-dollar takeover bid - a record sum in German business history. Monsanto says the offer is too low, but rumors of a potential deal have got the entire industry abuzz.
At Bayer's annual general meeting in Bonn, environmentalists and politicians voiced discontent over the proposed takeover. Both companies have come under fire for substandard ethical and environmental practices.
Amid vocal street protests from environmentalists, chief executive Werner Baumann has described the multi-billion-dollar takeover of Monsanto as a perfect fit despite the US chemical giant's "challenging image."
Vocal protesters gathered on Bonn's United Nations plaza to protest the annual shareholders meeting of the German drugs juggernaut Bayer. The chemical manufacturer hopes to take over the US corporation Monsanto.
German pharmaceuticals giant Bayer has posted a decent jump in full-year earnings and revenues for 2016. The Leverkusen- based company also reported good progress in its planned takeover of Monsanto.
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