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Bayer to Sell Assets to BASF for $7 Billion, Subject to Monsanto Acquisition

Germany’s Bayer AG has agreed to sell parts of its crop-science business to rival BASF SE for €5.9 billion ($6.98 billion) subject to the completion of its $57 billion acquisition of U.S. seed maker Monsanto Co.

Bayer said Friday it will use the net proceeds from the transaction to partially refinance the purchase of Monsanto.

The German…

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