Bayer begins open offer process for Monsanto India

German chemicals and pharma major Bayer Group has launched the process for over Rs 1,300-crore open offer to acquire up to 26 per cent additional stake in Monsanto India, following global acquisition of the US biotech firm for $63 billion.

Bayer AG, along with its Indian arm Bayer CropScience, has proposed to buy up to 44,88,315 shares, representing 26 per cent of the fully diluted voting equity share capital of Monsanto India, according to a regulatory filing.

The open offer is set at Rs 2,926.87 a share and the maximum size of the offer will be Rs 1,313.67 crore.