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Bloomberg: BASF bidding for Bayer's seed assets in strategy shift

Published 09/14/2017, 08:02 AM
© Reuters.  Bloomberg: BASF bidding for Bayer's seed assets in strategy shift
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  • BASF (OTCQX:BASFY) is bidding for a package of seed and chemical assets that Bayer (OTCPK:BAYRY) must divest as part of its planned $66B takeover of Monsanto (NYSE:MON), Bloomberg reports.
  • BASF, whose strategy has been to focus on its core expertise in chemistry and was continuing to develop fungicides and crop-protection chemicals, now sees Bayer's antitrust-driven asset sales as an opportunity to penetrate the seed market, according to the report.
  • DowDuPont (NYSE:DWDP) and Syngenta (NYSE:SYT) also are competing for Bayer's canola, cotton and soybean seed varieties, as well as the Liberty herbicide system, which could be valued at more than $5B combined, the report says.
  • Now read: BASF SE (DE:BASFN) (BASFY) Presents At Credit Suisse (SIX:CSGN) 30th Annual Basic Materials Conference - Slideshow


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