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Bayer’s Bid for Monsanto Faces Hurdles

Wave of consolidation in agricultural sector would give significant power to three companies

Bayer AG’s offer to buy Monsanto Co., on the heels of two other giant agricultural deals, would put a significant share of the corn-seed and pesticide market in the hands of just three companies, raising concerns among U.S. farmers and legislators about more expensive products and fewer choices.

Germany’s Bayer on Thursday said it had approached St. Louis-based Monsanto about a possible deal. Details weren’t disclosed, but the bid would likely be above Monsanto’s current market valuation of $42 billion, making it the...

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