image expired

Reuters has reported that Bayer has entered exclusive talks with BASF on the sale of its vegetable seeds business to address antitrust regulators’ concern over its planned merger with Monsanto, the two companies said.

Any deal is subject to a successful closing of the proposed acquisition of Monsanto, which Bayer hoped to wrap up in the second quarter, Bayer said on Wednesday.

The vegetable seeds business is valued at around 1.5 billion euros ($1.85 billion) including debt & has more than 1,200 seed varieties in 25 vegetable crops.

Reuters reported last week, that BASF and Bayer were in advanced talks about the sale of the vegetable seeds business, which operates under the brand Nunhems.