WSJ: DoJ to allow Bayer’s acquisition of Monsanto

|About: Bayer A.G. ADR (BAYRY)|By:, SA News Editor

Monsanto (MON +6.8%) spikes in reaction to a WSJ report that the U.S. Justice Department has decided to approve its pending acquisition by Bayer (OTCPK:BAYRY +3.1%), after the companies pledged to sell off additional assets to secure government antitrust approval.

An agreement in principle between the companies and the DoJ, brokered in recent days, mark a breakthrough in the U.S. merger review process, according to the report, which says Bayer CEO Werner Baumann and MON CEO Hugh Grant recently met with DoJ officials in Washington to help secure a deal.

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