Brazil regulator says Bayer’s takeover of Monsanto could be ‘detrimental to competition’

bayer

A unit of Brazil’s competition regulator Cade said the $66 billion takeover of Monsanto Co. by German life sciences firm Bayer AG could be detrimental to competition, a document released on the agency’s website shows.

The Bayer-Monsanto transaction, announced in September 2016, would create the world’s largest integrated pesticides and seeds company.

The Cade unit said that anticipated merger-related efficiencies were insufficient to mitigate its competition concerns, according to the document dated Oct. 3.

It recommended what it termed as “structural solutions” as a condition for final approval the deal, which will be in the hands of Cade’s seven-member tribunal.

The Cade unit said it had not engaged in an in-depth discussion with Bayer and Monsanto related to its suggested “remedies.”

In an emailed statement to Reuters, Bayer said the unit’s opinion is non-binding and does not mean the transaction will be blocked.

The GLP aggregated and excerpted this article to reflect the diversity of news, opinion and analysis. Read full, original post: Brazil agency urges conditions for approving Bayer-Monsanto tie-up

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