3/7/2018, 1:09 PM (Source: TeleTrader)
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Bayer negotiating to sell seeds division to BASF

Life sciences titan Bayer AG acknowledged on Wednesday it entered into exclusive talks about its vegetable seeds business with BASF SE. The chemicals manufacturer has struck a deal in October to take over the Bavarian counterpart's CropScience unit for €5.9 billion. The current negotiations are part of efforts to provide remedies for the European Commission's concerns, Bayer said. The European Union has been examining its agreement to acquire Monsanto Co. for a whopping $66 billion.

The previous transaction is for the global glufosinate-ammonium business and the related LibertyLink technology for herbicide tolerance, including the research capacities. The two German companies revealed, after media speculation, that they are now discussing the future of the cotton segment excluding India and South Africa, oilseed rape in North America and Europe and the global soybean seed operations.

EU regulators have said the investigation would end by April 5.

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