German chemical giant BASF has agreed to buy parts of Bayer’s seed and herbicide business for $8.8 billion.
The deal includes Bayer’s Liberty, Basta and Finale non-selective herbicides, and the seed business for crops such as InVigor canola hybrids using the LibertyLink trait in North America, cotton in the Americas and Europe, and soybeans in the Americas.
BASF will also gain the Bayer’s research arm for those crops, and the LibertyLink trait and trademark.
More than 1,800 employees in the US, Canada, Germany, Brazil and Belgium will transfer to BASF under the agreement, which is conditional on the Bayer takeover of Monsanto gaining all regulatory approvals.
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