Bayer Dismisses Antitrust Concerns about Digital Farming
Bayer said it was unable to propose the sale of any digital farming assets to allay EU concerns about its planned $66 billion takeover of Monsanto, according to an article on Reuters.com.
The European Commission last month started an in-depth investigation into the German group’s plan to acquire the U.S. seeds maker.
Among its concerns, the regulator took issue with Bayer’s plan to create combined offerings of seeds and pesticides with the help of new digital farming tools, such as connected sensors, software and precision machines.
“I fail to see what kind of a remedy there would be in this space. It’s extremely hypothetical in terms of where the overlap actually is,” the head of Bayer’s Crop Science division, Liam Condon, told Reuters on Tuesday, following a press conference on the business.
“If it’s considered that is an issue and a remedy is required then we have to discuss what the remedy is. I just don’t have the imagination what that could be.”