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Bayer Said Closer to Winning Monsanto With Deal Seen Next Week

  • Negotiations over $56 billion seed, pesticide deal progressing
  • German company’s board said to plan meeting on Wednesday

Negotiations between Bayer AG and Monsanto Co. are entering the final stretch as both sides move closer to an agreement to create the world’s biggest maker of seeds and pesticides, according to people familiar with the matter.

The German company could reach a deal to acquire its U.S. competitor as early as next week, said the people, who asked not to be identified because deliberations are private. Bayer’s supervisory board is scheduled to discuss the deal on Wednesday, the people said. Negotiations are ongoing and could still fall apart.

Bayer announced this week “advanced negotiations” and a sweetened offer of $127.50 a share, or $56 billion, as both sides seek to end more than three months of...