Bayer’s plan to get antitrust approval from the U.S. Justice Deparment hasn’t satisfied the expectations of U.S. officials.
Two sources told Bloomberg that those officials are worried that the merger could hurt competition. The department feels the Bayer proposal to sell off assets doesn’t go far enough. The U.S. government wants Bayer to sell off more of its assets in order to resolve its concerns. While negotiations between the two sides are continuing, those sources tell Bloomberg that a settlement is still likely months away. Representatives for Bayer, Monsanto, and the Justice Department all declined to comment on the story.
Bayer’s $66 billion takeover of Monsanto is part of a recent wave of consolidation in the agriculture seed and crop chemical firms. The companies are still seeking approval from U.S. and EU regulators after two other major deals were approved. Those combinations were Dow Chemical and DuPont, as well as China National Chemical Corporation and Syngenta.