Bayer sells units to be able to complete Monsanto takeover


German pharmaceutical giant Bayer AG has reached a 5.9 billion euro deal to sell parts of its Crop Science unit to German chemical company BASF to alleviate regulatory concerns over its planned takeover of U.S. seed and weed-killer company Monsanto Co. Monsanto last year accepted an offer from Bayer to pay $57 billion to its shareholders and assume $9 billion in debt.Bayer said Friday it's working with authorities with the aim of closing the deal by early 2018.



from Biotech News