German multinational Bayer has agreed to sell its digital farming business to BASF, rather than grant it a license, to accommodate US antitrust regulators scrutinising Bayer's proposed takeover of Monsanto. The deal is expected to close in the second half of this year, and will see Monsanto acquire all or part of Bayer’s crop protection business, which includes glyphosate-based herbicides such as Round@@ Bayer said it would seek to "wrap up" the Monsanto purchase during Q2 2018.
German multinational Bayer has agreed to sell its digital farming business to BASF, rather than grant it a license, to accommodate US antitrust regulators scrutinising Bayer's proposed takeover of Monsanto. The company has reached tentative agreements with the US Justice Department and European Commission, while BASF is set to acquire the firm's vegetable seeds unit, as well as various seed and herbicide assets for €5.9bn ($7.2bn). Bayer said it would seek to "wrap up" the Monsanto purchase during Q2 2018.