BASF and Syngenta are among the bidders to purchase Bayer’s LibertyLink business. The two companies have submitted bids to buy the LibertyLink business that Bayer is required to sell to get regulatory approval for its $66 billion takeover of Monsanto. Representatives for BASF, Syngenta and Bayer declined to comment to Bloomberg. However, executives of BASF and Syngenta have previously said that they would consider bidding for the assets that Bayer is selling to complete the merger with Monsanto this year.
Bayer may also sell garlic and pepper seed operations separately or as part of the whole package. In total, the disposals may fetch $2.5 – $3 billion. While BASF has sat out the agrochemical industry’s buying spree so far, Syngenta is in the midst of being acquired by ChemChina, and DuPont agreed to sell its crop-protection assets to FMC in March to get a merger with Dow Chemical past regulators.
Source: NAFB News Service