Bayer’s proposal to purchase Monsanto just got some real numbers attached to it.

On Monday, Bayer revealed the details, offering $122 per share in cash to Monsanto shareholders in a deal worth an estimated $62 billion.

“We have long respected Monsanto’s business and share their vision to create an integrated business that we believe is capable of generating substantial value for both companies’ shareholders,” said Werner Baumann, CEO of Bayer AG, in a company statement. “Together we would draw on the collective expertise of both companies to build a leading agriculture player with exceptional innovation capabilities to the benefit of farmers, consumers, our employees and the communities in which we operate.” Like other recent seed company deals (Syngenta/ChemChina and Dow/DuPont), Bayer’s acquisition of Monsanto would create a powerhouse seed and crop chemical company, with estimated combined sales of $26 billion in U.S. dollars (or 23.1 billion in euros) in 2015.

That would surpass the other major players, including Syngenta, Dow/DuPont, and BASF. (See chart.)

For many farmers, such consolidation is cause for concern; growers are worried about less competition leading to higher prices for seed and crop chemicals.

In investor and media materials released Monday, Bayer acknowledged those worries, without making any specific promises regarding pricing.  “The idea is about combining two complementary businesses. The relevant markets will continue to be highly competitive. Our goal is to help farmers increase their productivity and profitability, while ensuring an adequate basic supply of healthy, safe and affordable food.”