CCI Clears Bayer-Monsanto Merger Deal

The Competition Commission of India (CCI) has approved the acquisition of US seed major Monsanto Co. by Germany’s Bayer AG, in a decision that moves the $62.5-bn deal a step closer to the finish line.

Bayer is preparing to close the takeover this quarter, giving it control of more than 25% of the world’s seed and pesticides market. Both Bayer and Monsanto had subsidiaries in India, making it mandatory for them to receive clearance from the CCI.

The acquisition has been approved “subject to compliance of certain modifications,” the CCI said on Twitter, without elaborating. The CCI hasn’t yet made public the conditions imposed, but reports indicate that the watchdog had asked for divestment of Bayer’s agriculture seeds, vegetable seeds, glufosinate-ammonium and the digital agriculture business. In a statement, Bayer said the Indian clearance was “another milestone” towards the global acquisition.