Bayer said it has raised its offer to buy Monsanto from US$125 to US$127.50 per share. This is more than $65 billion and a 2 % increase on its previous offer. Already the previous offer was the largest all-cash takeover bid on record.

Bayer has been discussing a deal with Monsanto since mid-May. When Monsanto turned down the $125 offer, it said it was open to further talks with Bayer as well as with other parties. Bayer sees the agriculture industry as one of the greatest challenges of our time and wants to become a global leader in seeds, traits, and crop protection.

• Bayer AG, Leverkusen, Germany