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Monsanto shares rise on BASF buyout rumors

Monsanto Co (MON.N) shares were up 1.8 percent on Tuesday on rumors Germany's BASF (BASFn.DE), the world's largest chemical maker, would bid for the global biotech seed company.

A tie-up with Monsanto would give BASF a deeper footing in the United States and help it compete with agricultural rivals, including DuPont's (DD.N) Pioneer unit and Dow Chemical's (DOW.N) DowAgroSciences unit.

BASF and Monsanto declined to comment.

Missouri-based Monsanto's shares were up 1.8 percent at $68.35 in afternoon trading on the New York Stock Exchange. The stock had traded as high as $68.67 earlier in the...