Bayer sells units to be able to complete Monsanto takeoverBusiness | Oct 13, 2017 17:18
Monsanto last year accepted an offer from Bayer to pay US$57 billion to its shareholders and assume US$9 billion in debt.
Bayer said Friday it’s working with authorities with the aim of closing the deal by early 2018.
To "address certain overlaps in the combined product portfolio” of the companies, it says it will sell to BASF "essentially all of the company’s field crop seeds businesses,” and the Liberty herbicide brand.
The transaction’s subject to regulatory approvals and the successful closing of the Monsanto acquisition.
-AP (File photo)