Bayer wins U.S. approval for Monsanto deal
Source: Reuters
FRANKFURT/WASHINGTON (Reuters) - Bayer (BAYGn.DE) won U.S. antitrust approval for its planned takeover of Monsanto (MON.N) on condition that it sells about $9 billion in assets, the Justice Department said on Tuesday, clearing a major hurdle for the $62.5 billion deal.
The divestiture required by U.S. antitrust enforcers “aligns closely” with divestitures the European Union required, according to a source knowledgeable about the agreement between Bayer and the U.S. government.
Makan Delrahim, who heads the Justice Department’s Antitrust Division, said the asset sales agreed to by Bayer were the “largest ever divestiture ever required by the United States.”
In agreements with global antitrust enforcers, Bayer committed to sell its entire cotton, canola, soybean and vegetable seeds businesses and digital farming business, as well its Liberty herbicide, which competes with Monsanto’s Roundup.
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BUSINESS NEWS MAY 29, 2018 / 8:00 AM / UPDATED 26 MINUTES AGO
Patricia Weiss, Diane Bartz
3 MIN READ
Read more: https://www.reuters.com/article/us-monsanto-m-a-bayer-doj/bayer-wins-u-s-approval-for-monsanto-deal-idUSKCN1IU1DO
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