Bayer, of Germany, has won EU antitrust approval for its $66 billion dollar bid to buy U.S. company Monsanto.

The European Commission said Bayer addressed its concerns with its offer to sell a number of assets to BASF.

The U.S. Justice Department is also reviewing the merger.

China has given conditional approval to the deal. It has also been approved by Brazil and is currently being reviewed by Russian antitrust authorities. Australia said it would not oppose the deal.

Bayer has reached a deal to sell certain seed and herbicide assets to BASF and to give it a license to its global digital farming data. It will also sell its vegetable seeds business to BASF. The commission is set to rule on the BASF deal by April 16.

Bayer and Monsanto hope to close the transaction in the second quarter of 2018.

 

Send your news tips, story ideas and comments to jgiles@goldenwestradio.com