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Bayer, Monsanto deal likely late next week; priced in high $120s: Sources

German pharmaceutical and crop chemicals manufacturer Bayer is close to a deal to acquire Monsanto, and an announcement could come as early as late next week, sources told CNBC on Friday.

The deal is expected to price in the high $120s per share.

The two companies are still negotiating on regulatory issues, according to sources.

Bayer said Monday it was willing to offer more than $65 billion, a 2 percent increase of its previous offer for Monsanto, the world's largest seed company.

CNBC's David Faber and Reuters contributed to this report.