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
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.