In accordance with the decision of the US Justice Department, in order for Bayer and Monsanto to issue a merger for $ 66 billion, they must sell assets worth $ 9 billion to a third party. This is the largest volume of assets that US regulators demanded for the conclusion of a deal.
As noted in the statement of the US Justice Department, such allocation of assets "completely resolves all horizontal and vertical problems with competition," and "US farmers and consumers will continue to enjoy the benefits of competition in this industry."
The agreement on the sale of these assets by BASF was reached in the fall of 2017.
The agreement on the purchase of the American producer of GMO products Monsanto was signed by the German concern Bayer in 2016. The US company rejected several successive Bayer purchase offers and agreed only after the amount of the offer reached $ 66 billion. Over the next two years, the deal participants sought permission to merge with regulators from different countries. Only in March of this year the deal was approved by the European Commission. A month later, the permit was given by the Russian Federal Antimonopoly Service (FAS), subject to Russia's transfer of "modern technologies that these companies have been engaged in for many decades."
"The US Justice Department decision brings us close to achieving our goal of creating a world leader in agriculture," said Bayer CEO Werner Baumann, commenting on the prospects for closing the deal. "We want to help farmers around the world produce more complete food products in a more environmentally responsible way ". According to the management of Bayer, in the next two months they will be able to get all the missing permits for the transaction, and it will be completed by mid-summer.
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