Deals
BASF, Syngenta Are Among Bidders for Bayer-Monsanto Assets
- Companies have submitted preliminary offers for assets
- Businesses for sale could be valued at up to $3 billion
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BASF SE and Syngenta AG are among companies that have submitted preliminary bids for assets that Bayer AG plans to sell in order to get regulatory approval for its $66 billion takeover of seeds giant Monsanto Co., according to people familiar with the matter.
The two companies have expressed preliminary interest in acquiring the businesses, which include canola, cottonseeds, the LibertyLink herbicide-resistant trait and its glufosinate weed killer, the people said, asking not to be identified because the deliberations are private. Bayer may also sell garlic and pepper seed operations separately or as part of the whole package, the people said. In total, the disposals may fetch $2.5 billion to $3 billion, they said.