The decision concerning the sale by Monsanto (NYSE:MON) of its hybrid sunflower seeds business to Syngenta AG (NYSE:SYT) over antitrust issues has been pushed back to November 25 by the European Commission.
According to the commission, the reason for the extension will be to give them more time to see the remedies the two companies are taking to assuage concerns.
The deal, if completed, would also give Syngenta a foothold in the U.S. sunflower market.
They would get complete control over the sunflower seeds, along with the genetic information of the seeds, and their breeding and development.
The European Commission is looking into the competition factors related to the breeding and marketing of the seeds in the EU.
Past experience has shown that Europe will require companies to divest in the higher market areas in order to allow the deal to go through.