Antitrust sees agreement on Bayer, Monsanto merger till June

SOCHI, Feb 16 (PRIME) -- Russia’s Federal Antimonopoly Service plans to agree on a U.S. $66 billion merger between German chemical and pharmaceutical company Bayer and the U.S. Monsanto until June, the deadline for the deal, Deputy Director Andrei Tsyganov told PRIME on Friday.

“Of course we do,” he said and added that merger approvals in other countries are difficult and lengthy, too.

Tsyganov also said that Bayer may lose a large and interesting market if it leaves Russia as a result of the failure to approve the deal by the watchdog.

Bayer struck the deal to acquire Monsanto in 2016. The agreement envisages payment of a $2 billion cancellation penalty by Bayer in case the deal is not approved by antimonopoly authorities until June 14, 2018 and is terminated.

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