Event Driven Takeaways
- The European Commission has entered the market testing phase of its Monsanto/Bayer review. The EC yesterday, Feb. 5, revised its provisional deadline to April 5.
- The EC is talking to market participants, including ETC Group, about divestiture commitments submitted by Bayer last week. It is unclear whether the commission has found a buyer for any additional divestitures offered by Bayer.
The European Commission has begun the market testing phase of its review of Bayer’s $66 billion buyout of Monsanto. As a part of this phase, the commission is reaching out to potential buyers of assets Bayer has agreed to divest, as well as other market participants, an EC spokesperson told Event Driven. Bayer submitted non-public “commitments” - conditions or divestitures that the companies propose to abide by for approval of their deal - to the commission on Feb. 2, according to a