March 21, 2018 / 5:00 PM / a month ago

U.S. says it is still reviewing Bayer's planned Monsanto acquisition

WASHINGTON (Reuters) - The U.S. Justice Department said on Wednesday it was pressing on with its review of German conglomerate Bayer’s plan to buy Monsanto and noted the two regions’ very different markets in terms of genetically modified seeds.

The Brazilian national flag is seen next to Bayer's flag in front of Bayer headquarters in Sao Paulo, Brazil October 4, 2017. REUTERS/Paulo Whitaker

“While genetically modified seeds are largely prohibited in Europe, they are widely used throughout the United States. The Antitrust Division of the Department of Justice continues to examine the effects of the proposed transaction on American farmers and consumers,” the department said in a brief statement on its website that noted that it is continuing its review.

The statement came following news that Bayer won EU antitrust approval on Wednesday for the $62.5 billion deal, the latest in a trio of mega mergers that will reshape the agrochemicals industry.

Reporting by Diane Bartz; Editing by David Gregorio

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