Bayer Offers Concessions Seeking EU Approval for Monsanto Bid

Bayer has offered concessions to allay EU antitrust concerns about its $63.5 billion bid for U.S. rival Monsanto, the European Commission said on Monday and reported on Reuters.com, extending its investigation of the deal to April 5.

The EU competition watchdog did not provide details on its website. Bayer submitted its proposal on Feb. 2.

The German company struck a deal with BASF in October last year to sell seed and herbicide businesses for 5.9 billion euros ($7.36 billion) but is prepared to do more to gain EU approval.

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