NEW YORK, Sept 14 Bayer won over
Monsanto's management with a $128 per share offer to
take over the global seed market leader, a person familiar with
the matter told Reuters on Wednesday.
The companies have agreed on a break-up fee of $2 billion,
the person said. The deal is expected to be closed by the end of
2017, the source said.
Bayer was not immediately available for comment.
Shares in Bayer extended gains to trade 1.8 percent higher
on the news.
(Reporting by Gregory Roumeliotis; Writing by Ludwig Burger;
Editing by Maria Sheahan)