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German seed seller KWS renews bid for Bayer's vegetable business

KWS Saat SE said it was renewing its bid to acquire Bayer AG's vegetable seed business which primarily operates under the Nunhems name.

The German seed seller had originally made the non-binding offer in January, which was rejected at the time. KWS CEO Hagen Duenbostel told Reuters that the company was now making the offer public in hopes that antitrust regulators will regard it more favorably.

Bayer has already agreed to sell the business to chemicals company BASF SE for up to €1.7 billion to alleviate antitrust concerns regarding the $62.5 billion purchase of Monsanto Co.

The sale is yet to be cleared by relevant authorities. BASF is also buying some of Bayer's crop science businesses in a separate deal valued at €5.9 billion.

Anti-trust regulators in India, South Africa, EU and the U.S. have conditionally cleared Bayer's bid to acquire Monsanto.