Bayer wins US approval of Monsanto acquisition

Bayer has received approval from U.S. regulators for its $66 billion purchase of Monsanto, clearing the final major hurdle to a deal that creates the world’s largest producer of seeds and agricultural chemicals.

Bayer won regulatory approval by agreeing to the sale of about $9 billion of assets to BASF that Bayer had already announced. That divestiture, the largest ever in a U.S. merger enforcement case, eased regulators’ concerns about the deal hurting consumers and farmers.

The acquisition of Monsanto, the Creve Coeur-based seed company, is the last step in a corporate transformation by Bayer, a German chemical and pharmaceutical maker.

Bayer, which first announced the acquisition in 2016, now expects the deal to close as soon as this quarter.

Read more: Bloomberg, St. Louis Business Journal

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