Brazil: Monsanto set on keeping Intacta after Bayer tie-up

Agrochemicals company Monsanto Co. is determined to retain the rights to use its Intacta RR2 IPRO technology as the company continues to negotiate a merger with Germany’s Bayer AG, seeking approval from several competition authorities around the world.

The agreement, valued at US$66 billion and announced a year ago, would result in the creation of the largest pesticide and seed technology company in the world. Critics of the deal have asked the Administrative Council for Economic Defense (CADE) to prevent the operation or to require Monsanto to sell assets such as its genetic modification technology Intacta RR2, or Bayer’s glufosinate herbicide line.

“We are confident that we will keep Intacta’s technology within the new organization,” said Rodrigo Santos, Monsanto’s CEO in South America. “Despite working hand in hand, each competition authority must announce its decision autonomously.” Santos also revealed that it is Bayer who leads negotiations with regulators. The executive rejected the possibility of an excessive concentration that would justify the imposition of tough concessions.

Full Content: Reuters

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