Question
Bloomberg News reported on 12 May 2016 the rumor that the German firm: Bayer AG is exploring a potential bid for U.S. competitor Monsanto Co.
Bloomberg News reported on 12 May 2016 the rumor that the German firm: Bayer AG is exploring a potential bid for U.S. competitor Monsanto Co. Monsanto rose 8.4 percent to close at $97.92 in New York Thursday [12 May 2016] after news about Bayers interest. Bloomberg News disclosed on 18 May 2016 that Bayer made an unsolicited offer for Monsanto which Bayer confirmed but did not disclose a price. This prompted Monsantos stock to rise from $95.13 to $105.37 per share in New York. On May 23, 2016, Bayer publicly revealed that it offered $122 per share for Monsanto prompting Monsantos share price to rise 4.9% to 106.45 according to Bloomberg News. This was followed by a $125 offer per Monsanto share by Bayer on 14 July 2016 and a 127.50 per share offer by Bayer on 6 September 2016. Bloomberg News reported on 14 September 2016: Bayer AG agreed to buy Monsanto Co. in a deal valued at $66 billion, winding up four months of talks to create the worlds biggest supplier of seeds and pesticides. Bayer will pay $128 a share in cash, . The bid -- this years biggest deal and the largest foreign takeover ever by a German company -- was 21 percent above Monsantos closing price in New York on Tuesday. Using only the information above, the approximaterelevant control premium Bayer paid for Monsanto was:
A. 21%
B. 31%
C. 34%.
D. 42%
E. None of the above.
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