Bayer clears path to clinch Monsanto acquisition by divesting more to BASF

Bayer has agreed to sell a second tranche of agrochemicals and seeds businesses to BASF for $2 billion. The move should enable Bayer to satisfy European Union competition rules and complete its $63.5 billion deal to acquire Monsanto—first announced in September 2016—by July.Bayer already agreed in October 2017 to sell significant parts of its seed and pesticides business to BASF for $7 billion in a bid to satisfy EU regulations. In the new divestment round, Bayer will sell to BASF assets including its global vegetable seed activities, certain seed treatment products, its research platform for wheat hybrids, three herbicide research projects, and its digital farming business. Together, they generated 2017 sales of $900 million.