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Bayer to Sell Liberty Brands in Monsanto Acquisition

Bayer to Sell Liberty Brands in Monsanto Acquisition

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.

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“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.