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Bayer-Monsanto Deal Should Close in the Second Quarter of 2018

Dan Industry News Release

Bayer AG CEO Werner Baumann says he’s confident they’ll win European Approval of their deal to acquire Monsanto.

bayerA Bloomberg report says he’s trying to win the approval of its $66 billion acquisition while contemplating the sale of more businesses. He says, without the Monsanto acquisition, Bayer sales and profits will grind to a halt this year. Company shares dropped almost four percent on the weak forecast, the biggest drop in months.

The German-based company had expected to close the deal early this year. It remains confident that it can take care of EU antitrust concerns by either divesting or out-licensing businesses. The company has said it will sell its entire vegetable seed business in a deal that should wrap up in the second quarter of this year. Farming technology and the seed portfolio have emerged as key details in the EU talks.

A Reuters report this week says that EU regulators have already decided to give the deal their approval.

From the National Association of Farm Broadcasting News Service.