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Justice Department not satisfied with Bayer/Monsanto proposals

Source: Wikipedia

Bayer’s plan to get antitrust approval from the United States Justice Department has not satisfied the expectations of U.S. officials.

Two sources told Bloomberg officials are worried the merger could hurt competition. The Department feels the Bayer proposal to sell off assets does not go far enough. The U.S. government wants Bayer to sell off more of its assets in order to resolve its concerns.

While negotiations between the two sides are continuing, sources tell Bloomberg a settlement is likely months away. Representatives for Bayer, Monsanto and the U.S. Justice Department all declined to comment on the story.

Bayer’s $66 billion takeover of Monsanto is part of a recent wave of consolidation in the agriculture seed and crop chemical firms. The companies are seeking approval from the United States and European Union regulators after two other major deals were approved. Those combinations were Dow Chemical and DuPont, as well as China National Chemical Corporation and Syngenta.

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