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Bayer-Monsanto Deal Should Close in the Second Quarter of 2018 | KTIC Radio

Bayer-Monsanto Deal Should Close in the Second Quarter of 2018

Bayer AG CEO Werner Baumann says he’s confident they’ll win European Approval of their deal to acquire Monsanto.

A Bloomberg report says he’s trying to win the approval of its $66 billion acquisition while contemplating the sale of more businesses. He says, without the Monsanto acquisition, Bayer sales and profits will grind to a halt this year. Company shares dropped almost four percent on the weak forecast, the biggest drop in months.

The German-based company had expected to close the deal early this year. It remains confident that it can take care of EU antitrust concerns by either divesting or out-licensing businesses. The company has said it will sell its entire vegetable seed business in a deal that should wrap up in the second quarter of this year. Farming technology and the seed portfolio have emerged as key details in the EU talks.

A Reuters report this week says that EU regulators have already decided to give the deal their approval.

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