Bayer executives said that they met with executives of Monsanto to privately discuss a negotiated acquisition of Monsanto Company. Monsanto confirmed that it has received an unsolicited, non-binding proposal from Bayer for a potential acquisition. It is subject to due diligence, regulatory approvals, and other conditions. The Board of Directors of Monsanto is reviewing the proposal, in consultation with its financial and legal advisors.

The proposed combination would reinforce Bayer as a global innovation-driven Life Science company with leadership positions in its core segments and would create a leading integrated agriculture business.

Morgan Stanley & Co. and Ducera Partners are Monsanto’s financial advisors, and Wachtell, Lipton, Rosen & Katz its legal advisor.

• Monsanto Company, St. Louis, USA

• Bayer AG, Leverkusen, Germany