As part of our commitment to keeping you updated, we wanted to make you aware that we just issued a press release in response to a statement issued today by Bayer AG.
In the release, we confirmed that we have been engaged in constructive negotiations with Bayer AG, during which we have received an updated non-binding proposal for a potential acquisition of Monsanto for $127.50 per share in cash. Monsanto is continuing these conversations as it evaluates this proposal, as well as proposals from other parties and other strategic alternatives to enable our Board of Directors to determine if a transaction in the best interests of its shareowners can be realized.
Monsanto will have no further comment at this time. As stated before, there is no assurance that any transaction will be entered into or consummated, or on what terms.
As noted throughout the last several months, if there is additional information to communicate, it is my personal commitment that it will be shared with you in a timely manner through the appropriate communication channels.
Thank you all again for your incredible focus during this time.