May
29
Bayer Said Close to Picking Financing Banks for Monsanto Offer
By-
German company said to choose banks next week after pitches
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Weighing over $40 billion bridge loan; rest in term loans
Bayer AG is close to choosing banks to arrange funds for its proposed acquisition of Monsanto Co., according to people familiar with the matter, after the U.S. company rejected the initial $62 billion bid as too low and sought reassurances on the potential financing.
Bayer will probably raise more than $40 billion in short-term bridge financing and most of the remainder in term loans, said the people, who asked not to be identified because the talks are private. The German company interviewed lenders at its headquarters in Leverkusen this week and is likely to select about half a dozen banks next week, the people said…
Bayer Said Close to Picking Financing Banks for Monsanto Offer
