Bayer receives U.S. antitrust approval for Monsanto merger
Bayer yesterday received U.S. antitrust approval for its $66 billion acquisition of Monsanto, based on Bayer’s commitment to sell around $9 billion in assets.
Why it's a big deal: This is the largest-ever divestiture related to antitrust enforcement, and shows how the Trump administration's antipathy toward mega-mergers isn't limited to media or China.
- Bayer has until June 14 to close the deal, which was first signed in 2016, but still needs sign-offs from Canada and Mexico.
Bottom line from WSJ's Brent Kendall: "The approval clears one of the last remaining regulatory hurdles for the Bayer-Monsanto transaction, one of three recent mega-deals that have reshaped the global market for crop seeds and chemicals. Last year Dow Chemical and DuPont merged, while China National Chemical acquired Swiss seed and pesticide maker Syngenta."