Bayer’s plan to win antitrust approval to buy US seeds supplier Monsanto has not satisfied US officials, who are worried the US$62.5 billion merger could hurt competition, Bloomberg reported on Thursday, March 15.
The US Department of Justice wants Bayer to divest more assets to satisfy its conditions, and does not think the German chemicals company’s current proposal is sufficient, Bloomberg reported, citing people familiar with the matter.
Bayer had pledged to sell certain seed and herbicide assets for €5.9 billion (US$7.26 billion) to BASF to address EU regulatory concerns and has separately offered to sell its vegetable seeds business to BASF.
The company has secured an approval from Brazilian regulators for the merger, while it is in the frame to win conditional antitrust approval from the European Union, Reuters reported this week.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
