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The Competition Commission of India (CCI) has assessed that the proposed buyout of Monsanto by Bayer Aktiengesellschaft will hit operations of competing entities.
An official statement said, “The Commission is of the prima facie opinion that the proposed combination (buyout of Monsanto by Bayer) is likely to have an appreciable adverse effect on competition and, accordingly, has directed Bayer, in terms of Section 29(2) of the Competition Act, 2002, to publish details of the combination for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination.”
CCI said that Bayer, the acquirer, is a German stock corporation, and a life sciences company with competencies in the areas of healthcare and agriculture.
The activities of Bayer are carried-out in three main divisions, namely pharmaceuticals, consumer health, and crop sciences.
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