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Stockreport

Bayer's Monsanto takeover probed by European Commission [Business News Network (BNN) Energy & Resources (Canada)]

SYNGENTA (SYT)  More Company Research Source: Business News Network
US:NYSE Investor Relations: syngenta.com/investors
PDF Bayer's Monsanto takeover probed by European Commission The European Commission has started an in-depth investigation of Bayer's planned US$66 billion takeover of U.S. seeds group Monsanto, saying it was worried about competition in pesticide and seeds markets. The merger would create the world's largest integrated pesticides and seeds company, the Commission said, adding this limited the amount of competitors selling herbicides and vegetable seeds in Europe. "The Commission has preliminary concerns that the proposed acquisition could reduce competition in a number of different markets resulting in higher prices, lower quality, less choice and less innovation," the European Commission said in a statement on Tuesday. Germany's Bayer said it still aimed to have the transaction approved by the end of the year. "Bayer looks forward to continuing to work constructively with the Commission with a view to obtaining the Commission's approval," the company said in a statement. Bayer had previo [Read more]

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