Bayer shares surged Tuesday following a report that the U.S. Justice Department has given its blessing on a deal to acquire Monsanto.

Bayer has agreed to sell additional seed and treatment assets to BASF and will make concessions related to digital agriculture.

Shares of Monsanto soared near a four-year high on Monday.

Bayer's takeover of Monsanto would create a company that would own more than 25 per cent of the globe's seed and pesticides market.

The deal, valued at more than $60 billion, is expected to close in the second quarter.

 

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