EU Approves Bayer's Acquisition of Monsanto, With Conditions
21 Março 2018 - 08:36AM
Dow Jones News
By Alberto Delclaux
German chemical company Bayer AG (BAYN.XE) on Wednesday won
conditional European Union approval for its more than $60 billion
takeover of Monsanto Co. (MON) after the companies offered remedies
worth more than 6 billion euros ($7.38 billion) to assuage
antitrust concerns.
"Our decision ensures that there will be effective competition
and innovation in seeds, pesticides and digital agriculture markets
also after this merger," said European Competition Commissioner
Margrethe Vestager.
Bayer has committed to divest an array of assets to Germany's
BASF SE (BAS.XE). Bayer and Monsanto have also committed to divest
Monsanto's nematode seed-treatment assets to BASF, the commission
said.
Bayer said it is working with authorities to close the
transaction in the second quarter.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
March 21, 2018 07:21 ET (11:21 GMT)
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