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Bayer CEO Confident Monsanto Deal Will Close by Years’ End

Submitted by FoodDemocracyNo... on February 27, 2017 - 5:54pm

Originally published: WHO Radio

 

Bayer AG CEO Werner Baumann says he expects the Bayer-Monsanto deal will close by the end of this year. Bauman says he is confident the planned $57 billion acquisition of Monsanto would overcome any regulatory obstacles and close by the end of the year, despite delays with U.S. and European antitrust authorities, according to a report by Dow Jones.

 

Bauman made the comments during Bayer’s annual earnings conference. Bayer filed for approval with the Justice Department for the agreement at the end of last year, but has put off filing for regulatory approval with the European Commission until the second quarter of this year. The delay, according to Bayer, follows a request by officials for new documents regarding the transaction.

 

The merger would create the world's top supplier by sales of both seeds and pesticides, creating a "one-stop solution for farmers" that regulators could see as undermining competition. However, President Donald Trump has touted the deal because of Bayer’s commitment to creating new jobs in the United States.

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