Bayer and Monsanto ready to sell assets for $2.5bn

German-based Bayer and US-based Monsanto are reportedly about to sell assets for a minimum of $2.5bn in order to facilitate the approval of their $66bn mega-merger by antitrust authorities. Soybean, cotton and canola seed (oil) assets, as well as brands such as LibertyLink, will be divested, experts say. Some analysts expect German giant BASF to be among the major bidders for the divested assets. The companies are confident about the approval, because Bayer’s main business is pesticides while Monsanto’s focus is on genetically modified seeds.
(Source: Business Recorder)