The German pharmaceutical giant has agreed,... (Associated Press) 
 
 WASHINGTON (AP) — German pharmaceutical giant Bayer AG has agreed to the U.S. government's demand that it sell about $9 billion in agriculture businesses as the condition for acquiring Monsanto Co., a U.S. seed and weed-killer maker. Once the merger is complete, on June 7, one of the world's largest pesticide producers will be combined with the world's largest seed company. Genetically modified seeds, for example, are used widely in the U.S. but mostly banned in Europe. Under the new U.S. agreement, Bayer must divest: 
 
 — Businesses that compete with Monsanto, including its cotton, canola, soybean and vegetable seed businesses, and its Liberty herbicide business, a key rival of Monsanto's well-known Roundup herbicide. "Receipt of the (Justice Department's) approval brings us close to our goal of creating a leading company in agriculture," Bayer CEO Werner Baumann said in a statement.
– Monsanto, a name many critics equate with genetically modified crops and the heavy use of herbicides, will be rebranded once German pharma leader Bayer takes the helm, NPR reports. Bayer announced in 2016 it would acquire the agri-chemical business and this week said, following the takeover, "Monsanto will no longer be a company name." Per the AP, Bayer said Monday that it plans to complete its purchase of US seed and weed-killer maker after receiving all the required approvals from regulators. Along with the politically charged name, Bayer will be shedding much of Monsanto's agriculture arm. Regulators directed Bayer to divest assets such as vegetable oils, seeds and seed treatments to ensure fair competition and prevent price spikes after the massive agriculture business deal goes through. The assets will be sold to BASF, a German chemical company.