Canada Approves Bayer Acquisition of Monsanto, with Conditions

Dan Industry News Release, Seeds

The Canadian Competition Bureau has officially approved Bayer’s acquisition of Monsanto, with some conditions. The agreement addresses the Bureau’s concerns that the acquisition would have significantly harmed competition and innovation in Canada’s agricultural sector.

acquisitionFollowing a review of the sale, the Bureau concluded that the merger would substantially lessen and prevent competition in Canada with respect to the supply of canola seeds and traits, soybean seeds and traits, seed treatments that protect crops against nematodes, and carrot seeds. In order to address those concerns, the agreement requires Bayer to sell its canola seeds and trait business, soybean seeds and traits business, carrot seed business, as well as the nematode seed treatment business, as well as other assets.

Bayer has proposed BASF as the buyer of these assets and the Bureau is looking into the suitability of BASF as the proposed buyer.

The Bureau is satisfied that the agreement will preserve and protect innovation and competition in important agricultural inputs such as canola seeds, which is Canada’s highest-acreage crop.

From the National Association of Farm Broadcasting News Service.