Deals
Bayer Hints at Delay on Monsanto as Regulators Seek Details
- Drugmaker to file for EU approval in second quarter, not first
- Crops, consumer unit failed to boost earnings last quarter
Bayer CEO Is Confident on Monsanto, 2017 Growth
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Bayer AG signaled that its $66 billion takeover of Monsanto Co. may face delays, with regulators pressing for more information, even as it reiterated plans to complete the transaction by the end of the year.
The German drugmaker will only seek approval for the transaction in the European Union next quarter after regulators there requested more information, Chief Executive Officer Werner Baumann said at a meeting in Leverkusen, Germany, on Wednesday. The target timing was previously the first quarter. The company is also responding to a second request from the U.S. Department of Justice, he said.