EU Demands Extra Effort in Bayer-Monsanto Takeover

Posted by Matt Hopkins|19 December 2017

The EU is demanding further concessions in order to approve the proposed buyout of US agri-giant Monsanto by German chemical firm Bayer, a source close to the matter said on Monday and reported on Yahoo.com.

Brussels launched an in-depth investigation in August into the $66 billion (56-billion-euro) deal, which would create the world’s largest integrated pesticides and seeds company.

The European Commission, which serves as the powerful anti-trust regulator for the 28-nation European Union, cited concerns it could reduce competition in key products for farmers.

Brussels is also under pressure by environmentalists who fear that the deal would give too much power to the world’s leading manufacturers of GMOs and the controversial weedkiller glyphosate.