German drug and chemicals-maker Bayer has made a takeover bid for agricultural giant Monsanto in a deal that could create the world's biggest supplier of seeds and pesticides.
Monsanto is known as a specialist in genetically modified crops.
The offer comes amid a wave of consolidation in the industry, with rivals Dow Chemical, DuPont and Syngenta all entering mergers recently.
The offer comes amid a wave of consolidation in the industry, with rivals Dow Chemical, DuPont and Syngenta all entering mergers recently.
However, any tie-up is likely to depend on regulators' competition concerns.
"There is no assurance that any transaction will be entered into or consummated, or on what terms," Monsanto said in a statement.
It added there would be "no further comment" until the board of directors completed its review of the proposal.
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