European competition watchdog approves $66bn Bayer-Monsanto agreement

Bayer has been granted approval to the $66bn acquisition of Monsanto by the European antitrust authorities. The approval is subject to Bayer selling part of its assets–seeds and herbicides–to competitor BASF. Additionally, Bayer has committed to the European Commission to license to BASF its “digital farming” portfolio. The total value of the dismissals imposed to Bayer is over €6bn. BASF has already accepted to acquire part of Bayer’s Seeds portfolio for €5.9bn and has recently accepted to buy the vegetable seeds division for €1.5bn.

(Source: Bayer)