A unit of Brazil’s competition regulator Cade said the US$66 billion takeover of Monsanto by German life sciences firm Bayer could be detrimental to competition, a document released on the agency’s website shows.
The Bayer-Monsanto transaction, announced in September 2016, would create the world’s largest integrated pesticides and seeds company.
The Cade unit said that anticipated merger-related efficiencies were insufficient to mitigate its competition concerns, according to the document dated October 3.
It recommended what it termed as “structural solutions” as a condition for final approval the deal, which will be in the hands of Cade’s seven-member tribunal.
The Cade unit said it had not engaged in an in-depth discussion with Bayer and Monsanto related to its suggested “remedies.”
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