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Bayer asks for more time in Monsanto deal approval

Published 09/19/2017, 08:12 AM
© Reuters.  Bayer asks for more time in Monsanto deal approval
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  • Bayer (OTCPK:BAYRY) says it now expects to close its acquisition of Monsanto (NYSE:MON) in early 2018 rather than late 2017.
  • Bayer says it submitted an application to extend the European Commission review deadline for the deal in order to facilitate "an appropriate evaluation given the size of the transaction."
  • The EC last month started an in-depth investigation of the takeover, saying it was concerned about competition in various pesticide and seeds markets.
  • Bayer, holding a media event on its Crop Science business, also says the division will face volatile global markets for the rest of the year but would slowly return to growth from 2018.
  • Now read: Monsanto And Imminent Growth Are Now Synonymous

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