Bayer confirms its executives recently met with executives of Monsanto to privately discuss a negotiated acquisition of Monsanto Company.

“The proposed combination would reinforce Bayer as a global innovation-driven Life Science company with leadership positions in its core segments, and would create a leading integrated agriculture business,” the company says in a news release.

This statement follows Monsanto’s announcement earlier announcement regarding a proposal from Bayer. Monsanto Company disclosed that it has received an unsolicited, non-binding proposal from Bayer AG for a potential acquisition of Monsanto.

“The Board of Directors of Monsanto is reviewing the proposal, in consultation with its financial and legal advisors. Monsanto will have no further comment until its Board of Directors has completed its review. There is no assurance that any transaction will be entered into or consummated, or on what terms,” Monsanto said in a statement.

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