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BASF (BAS)
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BASF seeks EU antitrust approval to buy Bayer assets

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03/08/2018 | 12:55pm CEST
FILE PHOTO: A logo is seen on the facade of the BASF plant in Schweizerhalle

BRUSSELS (Reuters) - Germany's BASF (>> BASF) has asked for European Commission approval to buy assets from drugmaker Bayer (>> Bayer), the company which needs to shed businesses to get clearance for its $63.5 billion (45.76 billion pounds) merger with Monsanto (>> Monsanto), a filing showed.

BRUSSELS (Reuters) - Germany's BASF has asked for European Commission approval to buy assets from drugmaker Bayer, the company which needs to shed businesses to get clearance for its $63.5 billion (45.76 billion pounds) merger with Monsanto, a filing showed.

The Commission, which gave no further details on the deal being examined, set a preliminary deadline of April 16 to decide on the matter.

The Commission, which acts as competition watchdog in the European Union, added its assessment of the BASF request did not automatically mean it was satisfied with the commitments made by Bayer.

Earlier this year, Bayer said it had made "very significant" concessions to the Commission, adding it was confident they would fully address competition concerns.

Bayer has already pledged to sell certain seed and herbicide assets for 5.9 billion euros ($7.2 billion) to BASF and is also in talks to sell its vegetable seeds business.

(Reporting by Robert-Jan Bartunek; editing by Jason Neely and David Evans)

Stocks treated in this article : Monsanto, Bayer, BASF
Stocks mentioned in the article
ChangeLast1st jan.
BAYER 0.60% 97.18 Delayed Quote.-2.22%
MONSANTO 0.00%-End-of-day quote.9.57%
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Financials (€)
Sales 2018 66 418 M
EBIT 2018 8 657 M
Net income 2018 5 576 M
Debt 2018 15 830 M
Yield 2018 3,79%
P/E ratio 2018 13,63
P/E ratio 2019 12,76
EV / Sales 2018 1,43x
EV / Sales 2019 1,33x
Capitalization 79 219 M
Chart BASF
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BASF Technical Analysis Chart | BAS | DE000BASF111 | 4-Traders
Technical analysis trends BASF
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 102 €
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Martin Brudermüller Chairman-Executive Board
Jürgen Hambrecht Chairman-Supervisory Board
Hans-Ulrich Engel Chief Financial Officer & Vice Chairman
Michael Diekmann Vice Chairman-Supervisory Board
François Diederich Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BASF-7.39%91 697
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ROYAL DSM11.91%18 783
GROUPE BRUXELLES LAMBERT4.50%17 299
EVONIK INDUSTRIES-5.45%16 182
MITSUBISHI CHEMICAL HOLDINGS CORP.-26.50%12 637