Bayer Applies to Extend EC's Monsanto Deal Review to Early 2018
19 September 2017 - 7:14PM
Dow Jones News
By Sonia Amaral Rohter
Bayer AG (BAYN.XE) on Tuesday said that it submitted an
application on Monday to extend the European Commission review
deadline for its planned acquisition of Monsanto (MON) and that it
now expects the deal to close in early 2018.
In late June, Bayer filed a submission to obtain antitrust
approval for the deal from the European Commission. The European
Commission initiated an in-depth investigation into the deal on
Aug. 22. Bayer's application on Monday requested a ten-working-day
extension of the review deadline to Jan. 22, 2018.
Bayer said that it requested the extension in order to
facilitate "an appropriate evaluation given the size of the
transaction."
"In view of this, an anticipated closing of the deal in early
2018 is now more likely than end of 2017," said Liam Condon,
president of the crop-science division.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
September 19, 2017 04:59 ET (08:59 GMT)
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