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BASF to buy seeds, herbicide businesses from Bayer for $7 billion

“BASF has agreed to buy significant parts of Bayer’s seed and non-selective herbicide businesses for 5.9 billion euros ($7 billion) in cash, the two companies said on Friday” reports foxbusiness.com. The sale of the LibertyLink-branded seeds and Liberty herbicide businesses, which generated around 1.3 billion euros of sales in 2016, is a key part of the assets Bayer must sell.But Bayer’s $66 billion deal to buy Monsanto has created opportunities for rivals to snatch up assets it must sell to satisfy competition authorities.BASF, the world’s third-largest maker of crop chemicals, has so far avoided seed assets and instead pursued research into plant characteristics such as drought tolerance, which it sells or licenses out to seed breeders.
 
Source: foxbusiness.com



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