German chemical giant Bayer is looking into a bid for American agro-behemoth Monsanto, Bloomberg reported.

Bayer is leading “preliminary discussions” internally and with advisers, according to Bloomberg sources. It is considering how to finance the deal, including possible assets sales.

If successful, the Bayer and Monsanto agriculture businesses would combine to beat Syngenta as the top seeds and pesticide company, based on data from Statista.com.

Both companies responded to inquiries saying they don’t comment on market speculation.

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