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

BASF 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 developers

Reuters  |  Frankfurt 

BASF has agreed to buy seed and herbicide businesses from Bayer for 5.9 billion euros ($7 billion) in cash, as Bayer tries to convince competition authorities to approve its planned acquisition of Monsanto. 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 developers. But Bayer's $66 billion deal to buy US seeds group Monsanto, announced in September 2016, has created opportunities for rivals to snatch up assets ...

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First Published: Fri, October 13 2017. 18:22 IST
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