A PYMNTS Company

EU: Bayer sues FAS for more time

 |  February 13, 2018

According to Reuters, Bayer has taken Russia’s antitrust regulator to court over the watchdog’s investigation into the company’s planned takeover of Monsanto; a further hiccup in the US$64 billion deal amid intense antitrust scrutiny.

The German company was petitioning the court in Russia to be given more time to discuss demands made by the regulator about the deal, which would create the world’s largest seeds and pesticides company, said a company spokesperson. “The parties are in dialogue but the agreement has not been reached yet. Bayer made a decision to bring the case to court in order to safeguard its juridical rights,” Bayer said in a written statement.

Russia’s Federal Anti-Monopoly Service, which has yet to issue a ruling on the takeover, on November 9 made any approval conditional on Bayer sharing plant breeding technologies in Russia and giving access to digital farming data, among other remedies. It postponed the deadline for a decision by three months at the time.

Full Content: Reuters

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