Frankfurt | Reuters — Bayer has filed a request for approval of its planned US$66 billion takeover of U.S. seeds company Monsanto with European Union regulators, as suitors line up for assets that Bayer will sell to get the approval by year-end. Bayer, which is bracing for the EU Commission to go into an in-depth […] Read more
Bayer files for Monsanto takeover approval with EU regulators
BASF ready to snatch seed bargains as rivals sell assets
Ludwigshafen, Germany | Reuters — BASF will consider buying seed assets that rivals are putting on the block to win antitrust approval for tie-ups, saying bargain prices could persuade BASF to overcome its traditional reluctance to expand into the seeds industry. Sources familiar with BASF’s thinking have said that competition regulators looking at potential buyers […] Read more
BASF still out for ag chem deals
Frankfurt | Reuters –– German chemicals giant BASF said it would continue to push for acquisitions to shore up its crop protection business, after the antitrust-related sale of assets from the merger of Dow Chemical and DuPont left it empty-handed. “We are generally interested in strengthening our business further, acquisitions are part of that, that […] Read more
Bayer sweetens offer for hesitant Monsanto
Reuters — German drug and crop chemical group Bayer on Thursday announced details of a sweetened US$64 billion bid for Monsanto as it tries to put the U.S. seed company under pressure to engage further. The move shows the two companies have made little progress in their negotiations since Monsanto rejected Bayer’s previous offer in […] Read more
Monsanto reported exploring BASF ag unit buy
Reuters — Seed company Monsanto, which rejected Bayer’s buyout offer in May, is exploring various transactions, including the acquisition of BASF’s agriculture-solutions unit, news service Bloomberg reported. In return, BASF would likely receive newly issued shares in Monsanto, Bloomberg said, citing people familiar with the matter. The discussions are at an early stage, and no […] Read more
BASF says not backed into corner by Bayer’s Monsanto swoop
Ludwigshafen, Germany | Reuters — BASF, which has so far kept out of a consolidation push among global seeds and pesticides groups, said its business model was not affected by rival Bayer’s plans to buy Monsanto. “We are not backed into a corner by what is happening in the market,” the group’s deputy chief executive […] Read more
Bayer offers to buy Monsanto in global ag chem shakeout
Reuters — German drugs and chemicals group Bayer AG made an unsolicited takeover offer for U.S. seeds company Monsanto, aiming to create the world’s biggest agricultural supplier and integrate pesticides and seeds markets. Monsanto disclosed the approach on Wednesday before Bayer confirmed its move, though neither gave the proposed terms. Sources said Bayer would pay […] Read more
France set to ban dimethoate-treated cherries
Paris | Reuters — France will stop importing cherries from countries that use insecticide dimethoate after banning the chemical due to concerns over consumer health risks, the French agriculture ministry said. At a meeting of European Union country representatives on Friday, Italy and Spain said they would also withdraw dimethoate from their markets, but France […] Read more
BASF to cut half the jobs in plant biotech unit
Leverkusen, Germany | Reuters –– BASF, the world’s largest chemicals group by sales, will cut half of the 700 jobs at its plant biotechnology business, slashing some early development projects in yield improvement and stress tolerance and all of its rice yield and corn fungal resistance projects. BASF’s plant biotechnology unit is developing improved plant […] Read more
Dow, DuPont to merge in deal to create chem giant
Reuters — Chemical giants DuPont and Dow Chemical agreed to merge in an all-stock deal valuing the combined company at US$130 billion in a win for activist investors that could spark further consolidation in the farm chemicals industry. The deal to combine two of the biggest and oldest U.S. chemical producers is a prelude to […] Read more
Cyber-Savvy Farmer
