US: DOJ releases formal approval of Bayer-Monsanto merger
US: DOJ releases formal approval of Bayer-Monsanto merger

In US,  the Department of Justice has formally announced its approval for Bayer-Monsanto merger, conditional to further divestments by them.

In May 2018, DOJ ordered Bayer and Monsanto to divest $9 bn in assets, before the administration would approve estimated $62.5-bn merger.

Early in 2018 Bayer had made divestments including selling portions of its crop science division to BASF, totaling about $7 bn.

This remedy is a victory for American farmers and consumers. It fully addresses competitive threat posed by merger by vesting divestiture buyer, BASF, with full complement of assets, personnel, and rights needed to preserve competition in each of 17 affected markets.  

It requires divestitures that go beyond what would be needed to address current horizontal overlaps or vertical concerns to ensure that BASF can step into Bayer’s shoes, preserving competition that otherwise would be lost through merger.

For more :