Bayer CEO confident on Monsanto deal amid reported EU approval

Bayer CEO Werner Baumann said he is confident the German seed and chemical company’s $66 billion acquisition of Creve Couer-based seed company Monsanto will close before the end of June, even as Bayer considers the sale of more businesses to facilitate the deal.

Bayer is expected to win conditional approval of the deal ahead from the European Commission, Reuters reported Wednesday. The U.S. Department of Justice is also expected to decide on the tie-up soon.

Bayer, which has already pledged to sell some seed and herbicide assets to BASF to appease anti-trust regulators, expressed confidence it can win approval for the deal by selling properties and making licensing deals.

Announced in September 2016, the Bayer-Monsanto deal was initially expected to close in late 2017. Regulatory delays pushed that expected date into early 2018.

Read more: Bloomberg, St. Louis Business Journal

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