Bayer says suing Russian antitrust watchdog in Monsanto case

Bayer says suing Russian antitrust watchdog in Monsanto case

Bayer said on Tuesday it has filed a lawsuit against the Russian antitrust regulator over how it has handled its investigation in the German group's planned takeover of U.S. seed company Monsanto , even though the watchdog has yet to issue a ruling.

Monsanto logo is displayed on a screen where the stock is traded on the floor of the NYSE
Monsanto logo is displayed on a screen where the stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. on May 9, 2016. REUTERS/Brendan McDermid/File Photo

FRANKFURT: Bayer said on Tuesday it has filed a lawsuit against the Russian antitrust regulator over how it has handled its investigation in the German group's planned takeover of U.S. seed company Monsanto , even though the watchdog has yet to issue a ruling.

"The parties are in dialogue but the agreement has not been reached yet. Bayer made a decision to bring the case to court in order to safeguard its juridical rights," Bayer said in a written statement.

"This is a procedural step that will not prevent the parties from the opportunity of negotiations in regard of achieving mutually beneficial agreement to support innovative development of Russian agricultural industry," it added.

(Reporting by Ludwig Burger; Editing by Tom Sims)

Source: Reuters

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