Bayer-Monsanto Deal Gets Conditional Nod From European Commission

The European Commission conditionally approved Bayer’s proposed acquisition of Monsanto. The conditions cover in particular the divestment of certain Bayer businesses, including the global field crop seeds business such as canola, cotton, and soybean (with minor exceptions restricted to the Asia region), the R&D platform for hybrid wheat, the global vegetable seeds business, the global glufosinate ammonium business as well as certain glyphosate-based herbicides in Europe, predominantly for industrial use. In addition, Monsanto’s global business with the nematicide NemaStrike must be divested. The conditions also stipulate the transfer of three Bayer research projects in the area of non-selective herbicides and the granting of a license to Bayer’s digital farming portfolio. BASF is the intended purchaser of these assets. “Receipt of the European Commission’s approval is a major success and a significant milestone,” said Bayer CEO Mr. Werner Baumann. Bayer said it has now received approvals for the transaction from more than half of relevant regulatory authorities, including those in Brazil and China.