Sources: Bayer to win EU approval for $62.5 billion Monsanto deal

Bayer has already pledged to sell certain seed and herbicide assets for 5.9 billion euros

German drug and crop chemical maker Bayer (BAYGn.DE) is set to gain conditional European Union antitrust approval for its $62.5 billion bid for world No. 1 seed company Monsanto (MON.N), two people familiar with the matter said on Wednesday.

The takeover, the latest in a series in the agribusiness sector in recent years, would create a company with a share of more than a quarter of the world seed and pesticide market.

Bayer has already pledged to sell certain seed and herbicide assets for 5.9 billion euros ($7.2 billion) to BASF (BASFn.DE) to address EU regulatory concerns.

The company will also give BASF a license to its digital farming data, and it appears BASF will have exclusive access as Bayer has not offered a legal obligation to license to other rivals, a person with knowledge of the matter has told Reuters.

Read more