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Bayer says DOJ gives conditional merger approval

Bayer says the U.S. Justice Department has given Bayer conditional approval to acquire Monsanto, a big step forward for the proposed merger of the two ag companies.

Bayer CEO Werner Baumann says the company now has nearly all the clearances it needs for closing the transaction. It expects full clearance soon.

Bayer says the Justice Department will allow the integration of Monsanto into Bayer as soon as its divestments to BASF are completed.