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
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.