German chemical company EU is carrying out due diligence on the possible acquisition of Bayer 's € $63.5bn ($ 1.5bn ) vegetable seed business, according to people familiar with the matter. A BASF spokeswoman said the company had answered a questionnaire sent out by the EU Commission on Bayer ’s draft commitments, and was now "evaluating any remedy assets from the Bayer /Monsanto transaction that show a strategic and economic fit". Bayer has offered to sell the unit to ease regulator's fears surrounding its 1.5bn mega-merger with EU , which recently received conditional EU antitrust approval.
German chemical company BASF is carrying out due diligence on the possible acquisition of Bayer's €1.5bn ($1.85bn) vegetable seed business, according to people familiar with the matter. A BASF spokeswoman said the company had answered a questionnaire sent out by the EU Commission on Bayer’s draft commitments, and was now "evaluating any remedy assets from the Bayer/Monsanto transaction that show a strategic and economic fit". Bayer has offered to sell the unit to ease regulator's fears surrounding its $63.5bn mega-merger with Monsanto, which recently received conditional EU antitrust approval.