According to Reuters, Bayer is in exclusive talks with BASF on the sale of its entire vegetable seeds business. Through this and related moves, Bayer is confident of fully addressing all concerns of the European Commission related to its acquisition of Monsanto which is currently under review.
Any deal is subject to a successful closing of the proposed US$62.5 billion acquisition of Monsanto, which Bayer hopes to wrap up in the second quarter of 2018, the German group said on Wednesday, March 7.
Reuters reported last week that BASF was in advanced talks to buy the vegetable seeds business for roughly €1.5 billion (US$1.85 billion) including assumed debt, citing two people familiar with the matter.
Bayer already agreed last October to sell businesses worth €5.9 billion (US$7.32 billion) to BASF, including glufosinate-based herbicides and seed assets.
Full Content: Reuters
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