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German pharmaceutical and crops manufacturer Bayer is screening the books of takeover target Monsanto, sources familiar with the matter said, as Bayer agreed to sweeten its offer for the world's largest seeds company to more than $65 billion.
Monsanto agreed to Bayer conducting due diligence as the German company has made concessions on valuation, one of the people said, adding: “Both sides are gradually nearing consensus.”
Bayer is still considering all options regarding Monsanto, including striking a friendly deal, a hostile deal or pulling its offer, the person said.
Bayer and Monsanto were not immediately available for comment.
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