Monsanto Pops 17% Amid Multiple Takeover Reports

Shares of Monsanto Company (NYSE: MON) surged higher by more than 17 percent early Thursday morning after the company was named as a potential takeover target.

Street Insider, citing "sources claiming to have knowledge of the situation," reported Wednesday evening that Germany-based BASF is working with bankers to explore a potential takeover of Monsanto.

Related Link: Citi Analyst Shows Skepticism Monsanto Could Be Purchased by BASF, Sees 'Low Probability Event'

On Thursday morning, Bloomberg suggested that Bayer AG (ADR) (OTC: BAYRY) may be exploring a bid to acquire Monsanto.

Shares of Monsanto traded recently at $106.20, up 17.5 percent in the pre-market session.