In an August 12 ruling from an International Chamber of Commerce tribunal in Frankfurt, Bayer AG obtained the dismissal of a three-year arbitration brought by BASF SE claiming that it overpaid for assets that it bought from Bayer in 2018. Dow Jones reported that $1.75 billion plus interest was at stake.
During proceedings in Frankfurt, Bayer showed that it had provided adequate information on the cost structure of those assets. The dispute involved its sale to BASF of seed and herbicide assets for €5.9 billion and its global vegetable seeds business, certain seed treatments and digital farming activities for up to €1.7 billion. Bayer divested these assets and businesses to secure merger clearance for its acquisition of Monsanto.
The S&C team included Dustin Guzior, Rick Pepperman, former partner Steven Holley, Akash Toprani, Alex Gross, Bill Wagener, Colin Hill and Michael Lemanski.
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