Reuters logo
EU Commission extends review of Bayer-Monsanto deal until Aug 22
August 1, 2017 / 12:39 PM / 4 months ago

EU Commission extends review of Bayer-Monsanto deal until Aug 22

BRUSSELS, Aug 1 (Reuters) - The European Commission on Tuesday extended its review of Bayer’s $66 billion takeover of agrochemicals group Monsanto by two weeks, adding the companies had submitted their proposed concessions on Monday.

The Commission said it had received commitments aimed at allaying competition concerns on Monday but did not provide details.

It set a deadline of Aug 22 to complete its preliminary review of the deal, after saying previously it expected to do so by Aug 7.

Bayer is bracing for the Commission to go into an in-depth antitrust assessment of the merger, but aims to complete the transaction by the end of the year.

The German chemicals maker has said it would make major asset sales to win the go-ahead from competition authorities such as the European Commission, which rules on mergers in the European Union. (Reporting by Elizabeth Miles and Robert-Jan Bartunek; editing by Jason Neely)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below