German drug and chemicals company Bayer AG says it has made a $US62 billion ($A85.87 billion) offer to buy US-based crops and seeds specialist Monsanto Company.
Bayer said on Monday that the all-cash offer values Monsanto shares at $US122 each.
It said in a statement that the acquisition "would be a compelling opportunity to create a global agriculture leader, while reinforcing Bayer as a life science company with a deepened position in a long-term growth industry."
Bayer had said on Thursday that its executives met recently with their Monsanto counterparts "to privately discuss a negotiated acquisition" of the specialist in genetically modified crop seeds.
Monsanto is headquartered in St Louis, Missouri.
