A PYMNTS Company

EU: Bayer to sell digital farming business to BASF for merger approval

By  |  April 12, 2018

Germany’s Bayer plans to sell its digital farming business to BASF as part of changes to concessions it has offered to win over antitrust regulators for its proposed takeover of Monsanto.

Bayer, which had previously only agreed to grant a license to competitors, announced on Wednesday, April 11, that as part of the changes agreed with the European Commission it would retain a licence to certain digital farming applications.

Digital farming, which combines sensors, software and precision machines, is still in its infancy but all the large players in the seeds and pesticides industry are developing digital offerings.

The changes stem from an agreement in principle with the US Justice Department over an antitrust approval, with only a few remaining details to be hammered out, a source familiar with the matter.

Full Content: News 18

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