CCI clears Bayer's deal for Monsanto
Competition Commission of India (CCI) has approved the acquisition of U.S. seed major Monsanto Co by Bayer AG, in a decision that moves the $62.5 billion deal a step closer to the finish line. German conglomerate Bayer is preparing to close the takeover this quarter, giving it control of more than 25 percent of the world`s seed and pesticides market.
Both Bayer and Monsanto had subsidiaries in India, making it mandatory for them to receive clearance from the CCI. Image source: Reuters