Monsanto rejects Bayer $62 billion takeover bid

Monsanto rejected Bayer's $62 billion takeover bid calling it "incomplete and financially inadequate."

The seed company suggests that it remains open to talks. Bayer made an all-cash bid that valued Monsanto's stock at $122 per share.

Monsanto is building a 500,000 square foot primary cottonseed production facility in Lubbock, a reported $140 million capital investment.