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Bayer reaches deal with U.S. for approval to buy Monsanto

German drugs and pesticides group Bayer AG has reached a deal with the U.S. Justice Department for antitrust approval for its $62.5 billion bid to acquire Monsanto Co by agreeing to sell additional assets, The Wall Street Journal reported on Monday.

The Justice Department reached an agreement in principle with the two companies in recent days, the Journal said, citing people familiar with the matter.

Bayer declined comment on the report, but said in a statement it anticipated closing the Monsanto purchase in the second quarter.

“We remain confident in our ability to obtain all necessary regulatory approvals and look forward to continuing to work diligently with regulators to support that process,” it said.

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