Bayer offered to acquire Monsanto (MON) for $62 billion on Monday, a deal one analyst called a 'necessity.' 'If you look at the makeup between the two companies - there's a little crossover in terms of where the revenue comes from,' said Simon Smith, chief economist at FxPro, based in London. 'There have been such huge deals in this area that it seems more like a necessity that this deal has to happen.' The all-cash deal amounts to $122 per share, which is a 37 percent premium to Monsanto's closing stock price on Friday. Smith also commented on the failed talks over the weekend among G7 finance officials. TheStreet's Scott Gamm reports from Wall Street.