June 2 (Reuters) — Bayer AG has secured a loan facility worth US$66.94 billion to fund its $62 billion offer for Monsanto Co., according to a German business newspaper.
Bayer AG secured the bridge loan from Bank of America Merrill Lynch, Credit Suisse, HSBC, Goldman Sachs and JP Morgan, sources said.
Bayer made an unsolicited takeover offer for Monsanto in May. Monsanto turned down the bid as “incomplete and financially inadequate”, but said it was open to further negotiations.
