Bayer CEO auctioning assets to clear Monsanto deal

Bayer CEO Werner Baumann has begun to market US assets owned by the German conglomerate in order to win clearance for its $66 billion merger with Monsanto, The Post has learned.

The assets — which are expected to include a vegetable seeds business and a software unit that helps farmers determine soil conditions for crops — are said to represent more than the $1.6 billion in sales as required under the merger agreement when including the previously announced sale to BASF, sources said.

The asset auctions signal that Bayer believes it has adequate direction from the European Commission and the Justice Department on what it must do to win approval for the Monsanto deal, valued at $128 per share, sources said.

“I’m pretty confident there will be divests and the merger will get through,” a DC source close to the situation said.

Read more at the New York Post (Josh Kosman)

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