Reuters is reporting that Bayer has agreed to sell its Liberty herbicide and LibertyLink-branded seeds businesses to help gain approval of its acquisition of Monsanto.
According to the article, the sale of the two brands – a requirement imposed by South Africa’s Competition Commission on May 7 – will account for the bulk of asset sales worth about $2.5 billion necessary to satisfy competition regulators. The divestitures are also expected to be required by competition regulators in larger jurisdictions, such as the United States and the European Union.
“Bayer has agreed to these conditions and is evaluating how best to execute the imposed divestiture,” the German-based company said in a released statement. “Bayer will continue working with regulators globally with a view to receiving approval of the proposed transaction by the end of 2017.”
The entire article is available here.