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Bayer says suing Russian antitrust watchdog in Monsanto case

Published 02/13/2018, 10:20 AM
Updated 02/13/2018, 10:20 AM
© Reuters. Monsanto logo is displayed on a screen where the stock is traded on the floor of the NYSE

FRANKFURT (Reuters) - Bayer (DE:BAYGn) said on Tuesday it has filed a lawsuit against the Russian antitrust regulator over how it has handled its investigation in the German group's planned takeover of U.S. seed company Monsanto (N:MON), even though the watchdog has yet to issue a ruling.

"The parties are in dialogue but the agreement has not been reached yet. Bayer made a decision to bring the case to court in order to safeguard its juridical rights," Bayer said in a written statement.

"This is a procedural step that will not prevent the parties from the opportunity of negotiations in regard of achieving mutually beneficial agreement to support innovative development of Russian agricultural industry," it added.

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