Monsanto’s acquisition by Bayer: CCI invites comments & objections from stakeholders
The Competition Commission of India (CCI) has invited comments, suggestions or objections from any person(s) adversely affected or likely to be affected by the proposed combination between Bayer Aktiengesellschaft and Monsanto company
New Delhi: In the backdrop of the Monsanto’s proposed takeover by the Bayer, the Competition Commission of India (CCI) has invited comments, objections or suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination. The step has been taken as per the provisions of Section 29(3) of Section 29(2) of the Competition Act, 2002.
The Commission has said that it is prima facie of the opinion that the proposed combination 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 had earlier received a notice filed by Bayer Aktiengesellschaft (Bayer) in relation to the acquisition of the entire shareholding of Monsanto Company (Monsanto) by Bayer on 7th August, 2017.
Bayer, the Acquirer, is a German Stock Corporation, and is a life sciences company with competencies in the areas of health care and agriculture. The activities of Bayer are carried-out in three main Divisions viz. pharmaceuticals, consumer health, and crop sciences. Monsanto is a global provider of agricultural products for farmers, viz. seeds, biotechnology traits and herbicides.
Bayer has already published the details of the proposed combination in all India Editions of four newspapers viz., The Business Line, The Financial Express, Indian Express and The Statesman on 05th January, 2018 and the same is also hosted on the respective websites of the parties. The said details are also available on the websiteof the Commission.
The feedback may be addressed to the Secretary, Competition Commission of India, Hindustan Times House, 7th Floor, 18-20, Kasturba Gandhi Marg, New Delhi – 110001 or through email: [email protected], within fifteen working days from the date of publication of details of the proposed combination.
However, the Commission has also made it clear that it is unlikely to consider unsubstantiated objections.