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EU Commission extends overview of Bayer-Monsanto offer until finally August 22

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The European Commission on Tuesday prolonged its overview of Bayer’s US$sixty six billion takeover of agrochemicals team Monsanto by two months, incorporating the companies had submitted their proposed concessions on Monday.

FILE Picture: The symbol of Bayer AG is pictured at the Bayer Health care subgroup output plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender/File Picture

BRUSSELS: The European Commission on Tuesday prolonged its overview of Bayer’s US$sixty six billion takeover of agrochemicals team Monsanto by two months, incorporating the companies had submitted their proposed concessions on Monday.

The Commission explained it had acquired commitments aimed at allaying competitors concerns on Monday but did not deliver specifics.

It set a deadline of Aug 22 to comprehensive its preliminary overview of the offer, after expressing earlier it expected to do so by Aug seven.

Bayer is bracing for the Commission to go into an in-depth antitrust assessment of the merger, but aims to comprehensive the transaction by the finish of the yr.

The German substances maker has explained it would make main asset product sales to acquire the go-in advance from competitors authorities such as the European Commission, which regulations on mergers in the European Union.

(Reporting by Elizabeth Miles and Robert-Jan Bartunek enhancing by Jason Neely)



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