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
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.