Monsanto Co. has revived talks with BASF SE about a possible combination of their agrochemicals businesses, according to people familiar with the matter, after it rejected a $62 billion takeover offer from Bayer AG. The U.S. company is exploring various transactions, including the potential acquisition of BASF’s agriculture-solutions unit, the people said, asking not to be identified as the discussions are private. In return, Germany’s BASF would likely receive newly issued shares in Monsanto, the people said. Discussions are at an early stage, and no final decisions have been made as talks with Bayer are continuing, they said. BASF is providing the latest twist in a prolonged attempt by the world’s top six suppliers of pesticides and seeds to consolidate. While Dow Chemical Co. and DuPont Co. are progressing with their planned merger relatively quickly, the planned $43 billion takeover of Syngenta AG by China National Chemical Corp. has attracted regulatory and political scrutiny.