Earlier this year, Monsanto let Swiss agribusiness giant Syngenta slip through its hands. After several rejected takeover attempts, Syngenta eventually agreed to be acquired by Chinese chemical corporation ChemChina for €39bn. Now, Monsanto is apparently on the lookout for new expansion targets.

According to reports by Reuters, sources says that the US company has approached Bayer AG with an interest towards acquiring the German company’s crop science unit. A potential takeover would be worth more than US$30bn, the reports says.

According to reports by Reuters, sources says that the US company has approached Bayer AG with an interest towards acquiring the German company’s crop science unit. A potential takeover would be worth more than US$30bn, the reports says. According to the sources, Bayer does not currently plan to sell its crop science business and was merely looking to sound out Monsanto’s offers.

Neither Monsanto nor Bayer has yet commented on the reports.Crop science is one of of Bayer’s core businesses. In 2015, it had sales of €10.4m and the unit is recording a steady growth.