Bayer bids $62 billion for Monsanto

Bayer AG offered $62 billion to buy Monsanto Co., deepening investor concern that it’s stretching its finances to become the world’s biggest seller of seeds and farm chemicals. The May 10 written proposal to Monsanto offered $122 a share in cash, the Leverkusen, Germany-based company said in a statement on Monday. Bayer’s stock dropped as much as 4.1%, extending losses since the potential deal was first revealed.