REPORT: Bayer’s Digital Farming Business Slated for BASF Takeover
Germany’s Bayer plans to sell its digital farming business to BASF as part of changes to concessions it has offered to win over antitrust regulators for its proposed takeover of Monsanto, according to new reports from Reuters.com.
Bayer, which had previously only agreed to grant a license to competitors, said on Wednesday that as part of the changes agreed with the European Commission it would retain a license to certain digital farming applications.
Digital farming, which combines sensors, software and precision machines, is still in its infancy but all the large players in the seeds and pesticides industry are developing digital offerings.
The changes stem from an agreement in principle with the U.S. Justice Department (DoJ) over an antitrust approval, with only a few remaining details to be hammered out, a source familiar with the matter told Reuters.
The Wall Street Journal reported late on Monday that an outline deal with the DoJ had been reached.