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Bayer, Monsanto agree to $9 billion asset sale to win US clearance

German chemical and pharmaceutical company Bayer has agreed to sell approximately $9 billion in assets to address concerns the Department of Justice had with its proposed acquisition of US agricultural company Monsanto.

The settlement agreement, which still requires court approval, includes measures to address concerns about horizontal overlaps, vertical issues, innovation and the adequacy of BASF as a buyer of assets.

“This comprehensive structural solution to significant horizontal and vertical competition concerns — the largest merger divestiture ever required by the United States — preserves competition...

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