BASF and Syngenta are offers by Bayer assets-Monsanto

London/Frankfurt-BASF and Syngenta are among the companies that have submitted preliminary offers by that Bayer plans to sell assets to get regulatory approval for the acquisition of seed giant Monsanto for $ $66 billion, according to people with knowledge of the matter.
The two companies have shown preliminary interest in acquiring the business, including canola, cotton seed and herbicide resistant lineage LibertyLink Glufosinate herbicide your and, said the people, who requested anonymity because the deliberations are private.
Bayer also will be able to sell the operations of garlic and pepper seeds separately or as part of the complete package, people said. In total, sold operations could reach $ $2.5 billion to $ $3 billion, they said.
Executives of BASF and Syngenta had said previously that they''il look to present offers for the assets Bayer is selling to complete the merger with Monsanto in this year.
Discussions are in the early stages and the provisions still could take several months to complete, said the people. No final decision has been taken and companies could still decide not to go ahead with the proposals, they said.
Representatives of BASF, Syngenta and Bayer preferred not to comment.
Bayer put the assets up for sale earlier this year and invited the interested parties to submit offers by complete package or individual business, possibly anticipating the concerns of antitrust authorities in the consolidation of the seed and pesticide sectors, previously said people with knowledge of the matter.
BASF has not participated in the wave of purchases of the agrochemical industry to date, but Syngenta goes through a process of selling to China National Chemical Corp., a business of $ $43 billion.
DuPont closed deal for sale of their crop protection active to FMC in March to achieve approval of the merger with Dow Chemical by regulators.
For BASF, the decision to acquire the assets of Bayer''s seeds would also be a distancing regarding your current strategy, focused on protection of crops.
The company''s agricultural solutions unit registered 5.57 billion euros ($ $6.25 billion) in revenue last year, 4,3% less than the previous year.
Bayer is enforcing your balance before the planned acquisition of Monsanto. This month, the company raised approximately 2.1 billion euros from selling stocks and bonds convertible Covestro chemicals manufacturer, profiting from the rapid increase in the stock price since the separation of the unit, in 2015.