Bayer to sell seed assets

Bayer AG reportedly will sell some of its seed business in order to ease antitrust concerns over its $66 billion planned acquisition of Monsanto Co., according to Bloomberg.Monsanto and Bayer representatives declined to comment for Bloomberg’s report.
Germany-based Bayer will send out information packets about its cottonseed, canola seed and LibertyLink operations, Bloomberg said, citing unnamed sources. None of Monsanto’s businesses are to be sold, the sources told the news agency, though the Creve Coeur-based had sold Bayer its cottonseed asset for $300 million in 2007.
Bayer has filed for regulatory approval in the U.S. and will file in Europe in the second quarter, CEO Werner Baumann has said. Reuters reported on a possible asset sale last week, stating the assets to be sold are worth $2.5 billion.

Source : Business Journal

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