Bayer to buy Aventis CropScience?
9 July 2001
Bayer to buy Aventis CropScience?
By FWi staff
LIFE sciences company Aventis is expected to announce that it is in
exclusive talks to sell its crop protection business to Bayer, reports the
Financial Times.
The deal would be a key step in Bayers plans to expand its agrochemicals
sector and move it from number six in the sector to the top, alongside
Syngenta.
The newspaper says Bayer appeared to have beaten bids from other
companies, including BASF and Dow Chemical, for Aventis CropScience.
It reports that the Aventis board will meet on Monday to approve talks
with Bayer. Analysts expect Bayer to pay Euro 6bn ($5.04bn) for Aventis
CropScience.
But the FT says antitrust regulators are expected to look closely
at the implications of a deal as both companies hold leading positions in
insecticides.
There is speculation that Bayer would sell some assets to BASF.