A PYMNTS Company

EU: Digital farming can’t be affected by Bayer-Monsanto says EC

By  |  February 11, 2018

According to Reuters, Bayer needs to ensure that is pending  merger with rival Monsanto does not stifle competition in digital farming. This report comes from a statement the European Union’s Competition Commissioner Margrethe Verstager told a German newspaper on Saturday, February 10.

Announced in 2016, Bayer’s US$63.5 billion takeover of US Monsanto, is set to create the world’s largest seeds and pesticides company.

Verstager told the paper that the European Commission’s role was not to block mergers, but to ensure they are structured in a way which does not hinder competition.  “It is our task to ensure that farmers still have a choice over seeds, pesticides, fungicides and insecticides even after the merger,” Verstager told the paper, adding that the Commission plans to publish its antitrust verdict by April 5.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.