EU approves Bayer takeover of Monsanto

BRUSSELS — The European Union has approved Bayer’s buyout of Monsanto in a massive agriculture business deal, but says they will have to shed some $7.4 billion in firms and other remedies to ensure fair competition in the market. EU Antitrust Commissioner Margrethe Vestager said Wednesday that the remedies proposed by Bayer and Monsanto are worth well over 6 billion euros in business and “meet our competition concerns in full.” Monsanto in September accepted Bayer’s $57 billion offer, in which it also assumes $9 billion in debt.