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European regulatory hurdle cleared in Bayer and Monsanto deal
The European Commission has approved the acquisition of Monsanto by Bayer. An EC news release says the merger is conditional on the companies selling businesses to address overlaps in seeds, pesticides and digital agriculture.
A statement from Bayer says some of that company’s seed treatment products will be sold rather than Monsanto’s NemaStrike. Bayer also says its digital farming business will be sold with certain applications licensed back to Bayer.
Bayer says it intends to offer the divested assets to BASF and adds that it’s waiting for additional regulatory approvals but expects the sale to be final this quarter.
The Bayer and Monsanto deal is the third major transaction in the seeds and pesticide sector following the mergers of Dow and Dupont, and Syngenta and ChemChina.
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