Bayer confirmed this week that the company is in exclusive talks with BASF regarding the sale of Bayer’s entire vegetable-seeds business, a move it expects to help it win approval for its acquisition of Monsanto. The move, according to Bayer, is part of its effort to address concerns made by the European Commission regarding the Bayer-Monsanto deal.
The European antitrust regulator, which has raised concerns that the Monsanto acquisition could pressure farmers, is expected to make its decision on the Monsanto deal by April 5th, though it could issue a ruling earlier, according to Dow Jones.
Bayer had already agreed to sell selected crop-science businesses to BASF for $7.3 billion last October. This first deal covers Bayer’s LibertyLink technology for herbicide tolerance, and essentially all of the company’s field-crop seed businesses, and related research and development capabilities.
From the National Association of Farm Broadcasting News Service.