If accepted, the unsolicited proposal, which includes debt, would be the biggest foreign takeover by a German company, Reuters reports.
Bayer said it would offer $122 per share for the St. Louis-based company, which represents a 37% premium to Monsanto's stock price on May 9.
"The acquisition of Monsanto would be a compelling opportunity to create a global agriculture leader, while reinforcing Bayer as a Life Science company with a deepened position in a long-term growth industry," Leverkusen, Germany-based Bayer said in a statement.
The deal is expected to provide Bayer's shareholders with accretion to core earnings per share by a mid-single-digit percentage in the first full year after closing and a double-digit percentage thereafter, the company added.
Bayer said it would finance the bid with debt and equity, Reuters said.
"This is the most active anti-trust department," Cramer added in a video today, "This is a Justice Department that is very inclined to veto whatever is most squawked about."
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on Monsanto stock.
The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MON