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Report: EU to approve Bayer, Monsanto deal

The EU is ready to conditionally approve Bayer AG's $62.5 billion acquisition of Monsanto Co., sources tell Reuters.

European antitrust regulators have extended the review of the acquisition multiple times in the past over concerns that the merger of German drug and crop chemicals maker Bayer with Monsanto, the world's top seed company, could reduce competition in the market.

According to Reuters, the EU is expected to give its final verdict on the merger ahead of its April 5 deadline.

In order to ease antitrust concerns, Bayer agreed to sell some of its crop science businesses to German chemicals company BASF SE for €5.9 billion. It also plans to sell its vegetable seeds business.

The transaction received antitrust approval in Brazil earlier this month.