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EU: Commission’s review of Bayer’s Monsanto bid postponed further

By  |  January 29, 2018

Bayer’s attempt to win regulatory approval for its planned takeover of Monsanto ran into further delays on Monday, January 29, as European Union antitrust investigators extended their investigation by five working days until March 12, Reuters reported.

According to Reuters, the ongoing proceedings would have given the German drug and pesticides maker until midnight on Monday to offer further concessions to EU regulators—or request another extension of up to 10 working days.

The EU did not state a reason for the extension to March 12 to deliver its verdict on the merger, which effectively gives Bayer a new deadline at midnight February 5 to propose concessions such as asset sales.

The transaction, opposed by environmentalist groups and by some farmers’ associations, would make Bayer the largest supplier of seeds and crop chemicals, surpassing ChemChina’s Syngenta, DowDuPont and BASF.

Full Content: Reuters

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