Close to a week after Monsanto revealed that its German rival Bayer had made an unsolicited takeover bid for the group, Bayer has now disclosed that it has made on offer of $62 billion to buy the American seeds company by offering $122 per share in cash. The move meant to create a dominant force in the agricultural supply sector, comes as both Bayer and another German giant BASF have been mulling a tie up with Monsanto. But the move has also triggered off an uproar among share holders in the market, and has raised a lot of concerns regarding the effects of a possible deal on the market.

The deal will also mean that Bayer will get Monsanto's 4000 patents in the US and 7000 worldwide, the US patent database mentioned.

Monsanto has been criticised for using legal tactics to enforce patents, and was also accused of playing a role in farmer suicides in India.

The move has triggered a backlash from investors, as one of Bayer's major shareholders described the bid as "arrogant empire building".