Bayer Makes Offer to Acquire Seed Company Monsanto

May 19, 2016, 04:02 PM

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The drug and chemical company Bayer of Germany made a bid to acquire seed giant Monsanto, which said Wednesday evening it would review the proposal.

The unsolicited proposal has given rise to the possibility of a pesticides and seed behemoth that could bring in more than $67 billion annually, the New York Times reports. The acquisition could raise difficulties with antitrust regulators in the U.S., given both companies' business in soybeans, canola and cotton.