News

BASF says ag unit is ‘not for sale’

A top official of BASF says the company is not looking to sell its Agricultural Solutions unit, refuting reports that BASF was in talks with Monsanto about a possible merger.

In a quarterly earnings conference call with reporters, BASF CEO Kurt Bock said the company has “made it quite clear” that its crop protection business is not for sale.

Earlier this month, Bloomberg reported that Monsanto was talking to BASF about a possible merger of their agrochemicals businesses.  Monsanto has rejected two takeover bids from Bayer in recent weeks.

Contacted by Brownfield, Monsanto declined to comment on Bock’s remarks.