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Monsanto Might Acquire BASF’s Agricultural Solutions Unit

A Monsanto logo is pictured in the company headquarters in MorgesA Monsanto logo is pictured in the company headquarters in Morges
A Monsanto logo is pictured in the company headquarters in Morges, Switzerland, May 25, 2016. REUTERS/Denis BalibouseDENIS BALIBOUSE

Seed company Monsanto, which rejected Bayer AG’s buyout offer in May, is exploring various transactions, including the acquisition of BASF’s agriculture-solutions unit, Bloomberg reported.

In return, BASF (BASFY) would likely receive newly issued shares in Monsanto (MON), Bloomberg said, citing people familiar with the matter.

The discussions are at an early stage, and no final decisions have been made, the report said, citing the people. Talks with Bayer (BAYRY) are continuing, sources told Bloomberg.

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Monsanto, BASF and Bayer could not be reached for comment outside regular business hours.

Monsanto’s board is split over the merit of potential deals with rivals BASF and Bayer with some executives keen to remain independent and others preferring a takeover, Bloomberg reported, citing a source.