Bayer/Monsanto merger clears U.S. DOJ
The $66 billion sale of Monsanto to Bayer has received approval from the U.S. Department of Justice (DOJ), according to published reports.
Bayer made its initial offer in 2016 and the two companies have worked to clear regulatory hurdles in several nations. The DOJ approved the sale in early April. The deal received similar approval from the European Commission, Brazil, Russia and China. Bayer sold its global vegetable seeds business, certain seed treatments and digital farming businesses to BASF in order to gain regulatory clearance in multiple countries.
Monsanto announced on May 7 that CEO Hugh Grant would step down after the deal is complete. Monsanto will become part of Bayer’s Crop Science Division based in Monheim, Germany.