Bayer today confirmed to CW that it has offered more concessions to secure the EU approval for its planned $63.5 billion acquisition of Monsanto.
This comes as the European Commission extended the deadline for the conclusion of its antitrust investigation from 12 March to 5 April. Bayer has already agreed to sell its Liberty glufosinate herbicide and Liberty-Link glufosinate-resistant seeds businesses to BASF for €5.9 billion ($7.3 billion), but also indicated that it was prepared to put additional assets on the block.
“We can confirm that we have indeed submitted remedies to the European Commission. We are confident that they fully address the European Commission’s concerns. Please understand that this is a strictly confidential process so that we are not at liberty to discuss any details,” the company tells CW. The Commission similarly declined to reveal what additional businesses Bayer had offered to divest.
By Natasha Alperowicz
Source: Chemical Week
Private equity investor Cinven is acquiring MBCC Group’s admixture business from Swiss construction chemicals major Sika on the rebound. Earlier, the British Competition and Markets Authority (CMA) had turned thumbs down on plans to sell the business to Ineos, citing antitrust concerns.
Air Liquide S.A. (Paris) announced the construction of an industrial scale ammonia (NH3) cracking pilot plant in the port of Antwerp, Belgium. When transformed into ammonia, hydrogen can be easily transported over long distances.
Huhtamaki receives a gold medal from EcoVadis on its sustainability performance – for the third year running. Its score places Huhtamaki in the top 4% of over 100,000 rated companies across the globe. EcoVadis is the world’s largest and most trusted business sustainability index.
