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BASF and Syngenta want Bayer assets

BASF and Syngenta have started the bidding process for Bayer’s ag assets that need to be divested as part of their pending merger with Monsanto.

Assets include canola, cottonseed, LibertyLink traits and glufosinate herbicides which are valued between $2.5 and 3 billion.

Bloomberg reports the company also plans to sell its garlic and pepper seed business which could be part of the package or sold separately.

This is BASF’s first move in the midst of ag mergers. Syngenta is currently being acquired with ChemChina and DuPont plans to sell its crop-protection portfolio to FMC as part of its merger with Dow.

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