The biggest M&A deal of 2016 is here.
Monsanto has agreed to the sweetened takeover deal by the German drugmaker Bayer.
The two have agreed to a $66 billion (£49.9 billion) deal, the companies announced on Wednesday.
Bayer raised its bid to acquire Monsanto, the US agricultural seed producer, to $128 a share.
The announced acquisition, including debt, is the biggest so far in 2016. It is a substantial markup on Bayer's opening bid of $122 a share earlier this year.
Monsanto rejected that offer in May, saying "the current proposal significantly undervalues our company and also does not adequately address or provide reassurance for some of the potential financing and regulatory execution risks related to the acquisition."
Bayer in July said it had since held private talks with Monsanto and had "comprehensively addressed Monsanto's questions concerning financing and regulatory matters and is prepared to make certain commitments to regulators."
It said it was willing to pay Monsanto $1.5 billion if the deal were blocked on antitrust grounds.
Bayer also raised its bid to $125 a share, which was again knocked back. The German drugmaker said it would be prepared to offer $127.50 only in connection with a negotiated deal.
Global agrochemicals companies are racing to consolidate, partly in response to a drop in commodity prices that has hit farm incomes.

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