Bayer clears final hurdle in $66bn Monsanto tie-up
Once the deal is through, three behemoths will dominate the world’s agriculture industry
Washington/Chicago/Berlin — Bayer won US antitrust approval for its $66bn takeover of Monsanto, clearing the last major regulatory hurdle to forming the world’s biggest seed and agricultural-chemicals provider, after a nearly two-year global review. The companies reached a settlement with the US Justice Department that resolves the government’s concern that the merger, as initially structured, would harm consumers and farmers, the US said on Tuesday. The agreement requires the sale of assets to BASF that Bayer has previously announced. The divestiture package was worth about $9bn, the largest in a US merger enforcement case, the government said. "America’s farm system is of critical importance to our economy, to our food system, and to our way of life," Makan Delrahim, the head of the department’s antitrust division, said on a call with reporters. "American farmers and consumers rely on head-to-head competition between Bayer and Monsanto." For Bayer, acquiring Monsanto is the last s...
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