Both Bayer and Monsanto have confirmed that negotiations for the sale of Monsanto are continuing and a new offer has been made. Bayer has updated its proposal to a non-binding $127.50 per share in cash. Monsanto says it will continue its conversations with Bayer as it evaluates the offer, but it’s also considering other offers from other companies as well. A Dow Jones report said Monsanto did acknowledge the new offer and called current negotiations “constructive.” Bayer executives said the pharmaceutical giant’s potential acquisition of Monsanto would create a global firm with a deep selection of pesticides and help farmers be better positioned to grow food for an increasing worldwide population. Bayer has faced some concern from some shareholders who are worried that the potential Monsanto acquisition would take it’s focus away from its pharmacology work. Monsanto’s board unanimously rejected Bayer’s previous offer of $125 dollars share back in July as too low. While the current offer is $127.50 per share, analysts have said $135 to $140 dollars a share might be more realistic.