NEW YORK (TheStreet) -- Shares of Monsanto (MON) were sliding in mid-afternoon trading on Tuesday as German chemical and pharmaceutical company Bayer (BAYRY) is again raising its bid for the St. Louis-based agricultural products supplier, an increase to $129 per share, Bloomberg reports.
As of last week, Bayer was offering $127.50 per share, or $65 billion, for the company.
Monsanto's board is likely to reach a decision on its proposed sale to Bayer by today.
Bayer's board is expected to review the deal on Wednesday.
A combination of the two companies would create the largest maker of seeds and pesticides in the world.
Bayer stock was declining in mid-afternoon 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