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Report: Bayer offers concessions to European regulators over Monsanto takeover

Bayer AG submitted commitments to European regulators in light of competition concerns over its $66 billion acquisition of agricultural company Monsanto Co. in order to avoid prolonged scrutiny, Reuters reported Aug. 1 citing the European Commission.

The initial review for the takeover will probably be completed by Aug. 22 after the commission pushed back a deadline by two weeks.

Bayer, which did not comment on what commitments it offered to regulators, expects to close the deal by year-end.