European chemical company BASF is in exclusive talks to acquire Bayer’s entire vegetable seed business, operating under the global trademark Nunhems. Bayer intends to divest this business in the context of its planned acquisition of global agriculture company Monsanto. Definitive agreements have not been concluded, according to BASF.
With this transaction, BASF says it wants to enhance its future seed platform and the market position of its Agricultural Solutions business.
BASF’s agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses was signed last year. The all-cash purchase price of €5.9 billion (US$7.2 billion) is subject to certain adjustments at closing.
The assets to be acquired include Bayer’s global glufosinate-ammonium non-selective herbicide business as well as its seed businesses for key row crops in select markets: Canola hybrids in North America under the InVigor brand using the LibertyLink trait technology; oilseed rape mainly in European markets; cotton in the Americas and Europe; and soybean in the Americas.