By Jacob Bunge and Dana Mattioli

Bayer AG has approached Monsanto Co. about a takeover that would fuse two of the world's largest suppliers of crop seeds and pesticides, according to people familiar with the matter.

Details of the offer couldn't be learned and it's unclear whether Monsanto will be receptive to it.

Should the bid succeed, a combination of the companies would boast $67 billion in annual sales and create the world's largest seed and crop-chemical company. A successful deal would ratchet up consolidation in the agricultural sector, after rivals Dow Chemical Co., DuPont Co. and Syngenta AG struck their own deals over the last six months.

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(END) Dow Jones Newswires

May 18, 2016 22:03 ET (02:03 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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