Bayer agrees to sell more crop science businesses to BASF as part of Monsanto deal.
Bayer will sell additional crop science businesses to BASF as part of its takeover of Monsanto, according to an article from Reuters. The deal reportedly includes its global vegetable seeds business, some seed treatments and digital farming activities with total sales of 745 million euros in 2017.
“With this move, we are implementing the corresponding undertakings made to the European Commission and other regulatory authorities to allow the successful closing of the Monsanto transaction,” Werner Baumann, chairman of the board of management of Bayer AG, is quoted as saying in a statement. According to the article, Bayer is on track to gain U.S. antitrust approval by the end of May barring complications. The deal, which is presumed likely to close, will “create a company commanding more than a quarter of the combined world market for seeds and pesticides” in the farm supplies industry.
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