NEW YORK (TheStreet) -- Shares of Monsanto (MON) were down in mid-morning trading on Tuesday as the St. Louis-based agricultural products supplier's board is likely to reach a decision on its proposed sale to Bayer (BAYRY) by today, Reuters reports, citing sources.
The German chemical and pharmaceutical company said last week that it was raising its offer for Monsanto to approximately $65 billion, or $127.50 per share.
Bayer's board is expected to review the deal on Wednesday, according to Reuters. The merger could still face hurdles during review from either Bayer or Monsanto's board.
A combination of the two companies would create the largest maker of seeds and pesticides in the world.
Bayer stock was lower in mid-morning trading on Tuesday.
Separately, 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. TheStreet Ratings has this to say about the recommendation:
The team rates Monsanto as a Buy with a ratings score of B. This is driven by multiple strengths, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and solid stock price performance. The team feels its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.You can view the full analysis from the report here: MON