LUBBOCK, Texas -
The world's largest seed seller is the target of a massive takeover bid from Bayer.
Monsanto confirms it has received an unsolicited non-binding proposal from its German rival.
The combined company would span pharmaceuticals, consumer health products, agriculture and pesticides.
While the companies did not disclose the offer's financial terms, analysts say Monsanto is likely to ask for more than its current market value of $42 billion.
Monsanto reports its board is in the process of reviewing a proposal.
Any deal would require regulatory approval.
In March Monsanto broke ground for a $500,000 square foot primary cottonseed production facility in Lubbock. The company is making a $140 million capital investment here.
In a statement to FOX34, Christi Dixon with Monsanto corporate media relations writes the company's plans remain the same in Lubbock.
