June 20, 2017 / 8:05 AM / 6 months ago

Bayer CEO says talks with EU over Monsanto deal constructive

DUESSELDORF, June 20 (Reuters) - Bayer’s chief executive said talks with the EU Commission over the antitrust scrutiny of the German drugmaker’s planned takeover of U.S. seeds maker Monsanto were “very good and constructive”, confirming a target to wrap up the deal by year-end.

Bayer still expects to be able to file for regulatory approval in Europe by the end of June, and CEO Werner Baumann reiterated that EU regulators would likely launch an in-depth analysis of the transaction, which will create the world’s largest supplier in the combined seeds and crop chemicals market.

“We are in very good and constructive talks with the EU Commission’s Competition Department. But we are not quite there yet,” Baumann told journalists. (Reporting by Matthias Inverardi; Writing by Ludwig Burger; Editing by Maria Sheahan)

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