Wednesday, 21 March 2018
On Wednesday, the European Commission authorised the conditional takeover of the American chemical giant Monsanto, by the German company Bayer. The amalgamation is conditional upon the transfer of a wide array of activities, intended as a solution to the overlapping nature of the activities of both firms within the seed, pesticide and digital agriculture sectors.
Margrethe Vestager, the European Commissioner for Competition, explained, “We have authorised the proposed takeover of Monsanto by Bayer, as the corrective measures proposed by the parties – the cost of which considerably exceed €6 billion – fully respond to our competition concerns.”
She went on, “Our decisions enable us to guarantee that both competition and innovation remain effective within the seed, pesticide and digital agriculture markets, even with this amalgamation.”
Bayer, based in Leverkuen, is a diverse company active in the pharmaceuticals, consumer health products, agriculture (as Bayer Crop Science) and animal health sectors.
Monsanto is active within the agricultural sphere, especially known for producing Roundup, a herbicide consisting of glyphosate, a controversial chemical substance.
The Brussels Times