Bayer has asked the European Commission to extend its review deadline on its planned takeover of Monsanto. The move by Bayer, according to company officials, seeks to allow more time for Bayer to finalize the agreement.
Dow Jones reports that in late June, Bayer filed a submission to obtain antitrust approval for the deal from the European Commission. The Commission initiated an in-depth investigation in August, and Bayer’s application this week requested a ten-working-day extension of the review deadline to January 22, 2018.
The company says it requested the extension to facilitate “an appropriate evaluation given the size of the transaction.” Company officials say the deal remains on track to close early next year.