Reuters is reporting that German drug and crop chemicals manufacturer Bayer’s $62.5 billion bid for world No. 1 seed company Monsanto is set to win conditional European Union antitrust approval. The deal would create the world’s largest integrated pesticides and seeds company.
The merger was first announced in September of 2016, with approval by EU officials being delayed several times, due to ongoing requests by regulators for concessions. According to Reuters, Bayer has already pledged to sell certain seed and herbicide assets for 5.9 billion euros ($7.2 billion) to BASF in response.
The final decision is expected by the end of March.
By David Nitchman – GAI Media