Bayer makes concessions to enable Monsanto purchase
The $63.5 million purchase of Monsanto by German pharmaceutical giant Bayer cleared regulatory hurdles in the U.S. in August 2016, but the company has since been working through a series of antitrust reviews around the world.
To address EU antitrust concerns over the purchase, Bayer last week agreed to sell its global vegetable seeds business, and also allow BASF exclusive access to its digital farming data.
Operating under the brand Nunhems, Bayer’s vegetable seeds business has more than 1,200 seed varieties in 25 vegetables crops. The business will be divested as a unit and include intellectual property rights, locations, and production sites.
In giving BASF an exclusive license to its digital farming platform, Bayer will allay regulatory concerns about its collection of data and information about farms.
Rivals and customers were given until last Friday to provide feedback to the EU competition authority on the proposed concessions. The authority has until April 5 to decide whether or not to accept the deal.