Bayer has engaged Finsbury and Hering Schuppener for PR support of its audacious $62B bid for agricultural technology company Monsanto.
The two firms, both owned by WPP Group, forged a partership last month to work more closely as they utilize strengths in the US and Europe. Brunswick and CNC are also reportedly involved in the deal.
Monsanto on May 24 rejected Bayer's overture as "incomplete and inadequate," but left the door open for continued talks. In a statement, chairman and CEO Hugh Grant said, "We believe in the substantial benefits an integrated strategy could provide growers and broader society," but added the proposal "significantly undervalues" his company and poses financing and regulatory questions.
The St. Louis-based company has engaged legal and financial counsel. It has not yet been reached about PR counsel but worked with Joele Frank on its $45B bid for Syngenta in 2015.
Following Monsanto's rejection, Bayer said it looks forward to engaging in contructive talks with the company but stressed that its $122-per-share cash offer provides "full and certain value" for Monsanto shareholders.
Bayer has set up AdvancingTogether.com to pitch the proposed merger, which the New York Times called the largest takeover bid by a German company and the biggest all-cash acquisition offer on record.
Why tracking macroeconomic, legislative and consumer confidence indicators is a beneficial habit for PR agency leaders to adopt.
For public relations agency owners planning to sell, preparation and investment across several key areas will yield the highest valuations and exit terms in 2026.
Kekst CNC represents the DallasNews Corp. as it gets acquired by Hearst Corp. for about $75M. The 140-year-old Dallas Morning News will join Hearst's 28 dailies.
