European Commission eyes Bayer-Monsanto takeover amid competition concern
Brussels — The European Commission has started an in-depth investigation of Bayer’s planned $66bn takeover of US seeds group Monsanto, saying it was worried about competition in pesticide and seeds markets. The merger would create the world’s largest integrated pesticides and seeds company, the Commission said, adding that this limited the number of competitors selling herbicides and vegetable seeds in Europe. "The Commission has preliminary concerns that the proposed acquisition could reduce competition in a number of different markets resulting in higher prices, lower quality, less choice and less innovation," the European Commission said in a statement on Tuesday. Germany’s Bayer said it still aimed to have the transaction approved by the end of 2017. "Bayer looks forward to continuing to work constructively with the Commission with a view to obtaining the Commission’s approval," the company said in a statement. Bayer had previously offered commitments aimed at easing the EU’s an...
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