Bayer close to winning EU approval for Monsanto deal
March 02 , 2018
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German crop chemical company Bayer is reportedly close to gaining conditional EU antitrust approval for its US$62.5 billion takeover of U.S. seed company Monsanto (NYSE:MON).
News agency Reuters said that was according to two people familiar with the matter.
The takeover would create a company with a share of more than a quarter of the world’s seed and pesticides market.
Bayer has already pledged to sell certain seed and herbicide assets for €5.9 billion euros to BASF to address EU regulatory concerns.
This week Bayer also said additional antitrust concessions would include the sale of its vegetable seeds business.
The European Commission is expected to issue a decision on the deal ahead of its April 5 deadline.
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