German pharmaceutical and crops manufacturer Bayer said on Monday that its negotiations with Monsanto had advanced, and it was now willing to offer more than $US65 billion ($85.8 billion) to acquire the world's largest seed company.
Bayer's announcement came as the gap in price expectations between the two companies has narrowed significantly, although important terms, including potential divestitures in case of antitrust scrutiny, have yet to be agreed on.
