A regulatory watchdog in the European Union is taking an in-depth look at the Bayer-Monsanto deal, a move that Bayer says the company expected.
A news release by Bayer says the company had expected further review of the proposed acquisition of Monsanto due to the size and scope of the transaction. Bayer believes that the proposed combination will be beneficial for farmers and consumers, and the company says it will continue to work closely with the European Commission in its investigation.
The companies notified the transaction to the European Commission on June 30th, 2017, and submitted commitments on July 31st, 2017. The European Commission is investigating Bayer’s planned $66 million takeover of Monsanto, saying it is worried about competition in various pesticide and seeds markets.
Reuters says that while the Commission could block the deal, it has approved others in the industry, such as Dow’s tie-up with DuPont and ChemChina’s takeover of Syngenta – although only after securing big concessions.