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Monsanto rises after Bayer makes monster takeover bid

Monsanto DeKalb brand hybrid corn is loaded into a Case IH planter in a field in Princeton, Ill., April 18, 2016.
Daniel Acker | Bloomberg | Getty Images
Monsanto DeKalb brand hybrid corn is loaded into a Case IH planter in a field in Princeton, Ill., April 18, 2016.

Shares of Monsanto advanced 4.4 percent Monday after German firm Bayer offered to buy the company for $62 billion in cash.

Bayer made the offer Monday morning after multiple recent reports linked the two firms.

Monsanto's stock has gained more than 7.5 percent in 2016, but has fallen more nearly 12 percent over the past year.

MON 12-month performanceSource: FactSet

Bayer's U.S. listed shares fell more than 5 percent.