German chemicals giant Bayer's logo is pictured at the Bayer headquarters in Leverkusen on May 23, 2016. AFP / Roberto Pfeil
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German drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying criticism from some of its own shareholders in a bid to grab the top spot in a fast-consolidating farm supplies industry.Monsanto, which said last week it had a received an approach from Bayer but gave no details, has yet to comment on the offer.Its shares were 5 percent higher at $106.60 at 1430 GMT, well below Bayer's offer and potentially reflecting several doubts about Bayer's assertion that regulatory scrutiny would be manageable.
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