Monsanto rejects buyout offer from Bayer, but follows open to negotiate.

New York, May 25 (AFP)-2016 the u.s. Agriculture giant Monsanto specializes in genetically modified organisms (GMOs) and in pesticides, rejected on Tuesday a buyout offer by 62 billion dollars made by the German pharmaceutical company Bayer AG is considered insufficient, but declared himself open to negotiate. The Board of Directors of Monsanto "considered unanimously that Bayer AG''s offer is financially and inappropriate," the company said in a statement signed by the President, Hugh Grant. Monsanto added, however, that it "remains open to hold constructive discussions to determine whether a transaction (..) It is possible ". Grant said the offer "significantly undervalues" Bayer company and does not sufficient guarantees as the German company would finance the transaction or how to deal with the possible questions of market regulatory authorities. Bayer presented on Monday to the Monsanto the biggest proposed acquisition ever made by a German group, by offering to pay $ 122 per share of the company, which would mean a total of about 62 billion dollars. The proposal sparked a rise in the shares of Monsanto, but only until the mark of 106 dollars, due to the expectation that the offer be rejected and that Bayer should improve it. On the other hand, Bayer''s shares fell. In the late afternoon on Tuesday, Bayer issued a press release stating that "expects to undertake in the future in a constructive dialogue with Monsanto," but hasn''t turned away from its initial offer. To seize "the opportunity of a lifetime," Bayer must increase the value offered, Jeffrey Holford, of consulting firm Jefferies. Monsanto has other cards up his sleeve, including a merger with the German BASF, which according to analysts, may not be as a mere observer of current movements in the world market of agrochemicals. The Chinese group bought the ChemChina Syngenta Switzerland, while the American Chemical and DuPont are hitting the details of their merger.