BASF Closes Acquisition of Bayer’s Vegetable Seeds Business
BASF announced this week it has closed the acquisition of Bayer's global vegetable seeds business. The transaction, BASF says in a news release, “adds a well-recognized brand with a very successful business track record to BASF's portfolio.” The acquired vegetable seeds business comprises 24 crops and about 2,600 varieties. It also includes a research and development operation, and breeding systems with over 100 unique breeding programs in more than 15 crops.
Closing of the acquisition allows Bayer to begin integrating Monsanto. The sale of the vegetable seeds business was a requirement needed for regulatory approval of the Bayer-Monsanto agreement. Bayer took ownership of Monsanto in June, but the two companies were ordered to remain separate until conditions by the U.S. Department of Justice, including this sale, were met.
Source; NAFB News