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Bayer Announces $7 Billion Deal, Part Of Move To Acquire Monsanto

KMUW | By Peggy Lowe
Published October 17, 2017 at 10:41 AM CDT

Bayer AG announced the sale of a large part of its agribusiness on Friday. The deal will move the company closer to yet another big deal.

Bayer AG says it sold part of its crop science division to BASF for $7 billion.

The sale includes Bayer’s field crop seed and pesticide businesses.

Bayer says the move is “an active approach” to help it win regulatory approval for its proposed buyout of Monsanto.

That $66 billion deal will merge two of the world’s largest agribusinesses.

Some in the industry are concerned there will be less competition in the chemical and seed businesses, meaning higher costs for farmers.

Copyright 2017 KMUW | NPR for Wichita
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HPPR Economy and Enterprise MonsantoBayer
Peggy Lowe
Peggy Lowe joined Harvest Public Media in 2011, returning to the Midwest after 22 years as a journalist in Denver and Southern California. Most recently she was at The Orange County Register, where she was a multimedia producer and writer. In Denver she worked for The Associated Press, The Denver Post and the late, great Rocky Mountain News. She was on the Denver Post team that won the Pulitzer Prize for breaking news coverage of Columbine. Peggy was a Knight-Wallace Fellow at the University of Michigan in 2008-09. She is from O'Neill, the Irish Capital of Nebraska, and now lives in Kansas City. Based at KCUR, Peggy is the analyst for The Harvest Network and often reports for Harvest Public Media.
See stories by Peggy Lowe