A PYMNTS Company

Brazil: Pushes back decision on Bayer-Monsanto tie-up

By  |  November 23, 2017

Brazilian antitrust agency Cade on Wednesday, November 23, Brazilian antitrust agency Cade extended its deadline to review the takeover of Monsanto by Bayer AG by 90 days to late March, potentially spoiling plans to wrap up the US$66 billion tie-up by the end of the year.

A spokesman said Cade had approved the extension at a session on Wednesday. The proposed takeover, announced in September 2016, would create the world’s largest pesticides and seeds company. Brazil is Monsanto’s biggest market outside of the United States.

In February, Bayer said it was aiming to get regulatory clearances and close the transaction before the end of 2017.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.