The head of Bayer’s Crop Science division told a German newspaper that the company expects to sell some of its cotton and canola seed business in order to gain approval of its takeover of Monsanto, reported Reuters. The $66 billion merger of the two companies would create the largest seed and agrochemical company in the world.
“In North America, the combined market share in cotton is indeed quite high. We anticipate that parts of this business many have to be divested,” Bayer executive Liam Condon told the newspaper Taz. Bayer also would have a “strong market position” in canola, he said.
“Antitrust experts have said regulators will likely demand the sale of some soybeans, cotton and canola seed assets,” said Reuters. It said Condon reiterated that compliance with antitrust rules would not be a serious hurdle.