The logo of Bayer AG is pictured at the Bayer Healthcare subgroup production plant in Wuppertal February 24, 2014. REUTERS/Ina Fassbender/File Photo
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German drug giant Bayer AG said Thursday that it is in talks to acquire U.S. agriculture behemoth Monsanto, a tie-up that had been the subject of weeks of speculation.The statement from Bayer followed one issued late Wednesday by the St. Louis, Missouri-based Monsanto.Shares of the U.S.-based agricultural giant Monsanto surged last week following news reports that it could receive a takeover bid from Bayer for $40 billion or more.Switzerland's Syngenta last year rejected an unsolicited offer from Monsanto, later agreeing to be bought by China National Chemical Corp. for $43 billion.
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