Competition Commission of India begins public consultation on Bayer-Monsanto deal
The Competition Commission of India (CCI) launched a public consultation process to determine whether the billion dollar merger deal between global giants Bayer and Monsanto to create the world's largest seeds and pesticide firm will have any adverse impact on competition in India.
Issuing a public notice inviting comments from everyone affected or likely to be affected by this merger, the CCI said the submissions must be made within 15 working days.
The fair trade regulator launches such public consultation process if it is of the prima facie opinion that a combination has or is likely to have an appreciable adverse effect on competition.
The global level deal has been under CCI scrutiny for quite some time amid apprehensions about possible adverse impact on genetically modified market competition scenario in the country, as alleged by some parties who fear creation of monopoly.
Mergers and acquisitions beyond a certain threshold require approval of the CCI.
German chemical and pharma major Bayer is buying out global biotech player Monsanto in a USD 66 billion deal.
Both the companies have presence in India, with the US firm selling genetically modified (GM) cotton seeds in the country for more than a decade.
As per a notice filed by Bayer before the CCI in October 2016, the "proposed combination raises no competitive concern in any of the overlap products".
In India, both entities have presence in production and sale of vegetable seeds, cotton seeds as well as in production and sale of non-selective herbicides, according to that notice.
Source : Agropages