We don't think the higher offer will be enough to entice Monsanto's board. ... We estimate Monsanto would be worth $130 per share in Bayer's hands, which includes our annual run-rate cost-synergy target of $1 billion.
Elliott welcomes these steps, and is confident that today's statement marks a step change in Bayer's approach to addressing the legal challenges currently facing the company.
Today's announcement is a testament to everything we've achieved and the value that we have created for our stakeholders at Monsanto. We believe that this combination with Bayer represents the most compelling value for our shareowners, with the most certainty through the all-cash consideration.
