Bayer, Monsanto to initiate $2.5B in asset divestitures
March 10, 2017
Agricultural Chemicals | Saint Louis, MO | Corporate Acquisition
To secure regulatory approval of the $66 billion deal between the companies, Bayer (ETR: BAYN) and Monsanto (NYSE: MON) have started the process of divesting assets valued at some $2.5 billion, almost $1 billion more than the companies had previously stated, per Reuters. Bayer is expected to sell off cotton, canola seed and soybean businesses and its LibertyLink crops. Monsanto has already sold off its Latitude fungicide product line to Mitsui & Co. (TKO: 8031) for $140 million.