Bayer Sees FTC Decision On AventisCrop Science Buy Soon

FRANKFURT -(Dow Jones)- Bayer AG said Wednesday that it is still awaiting a decision by the U.S. Federal Trade Commission (FTC) on its takeover of Aventis CropScience, but expects to hear from the competition authority soon.

Bayer spokesman Guenter Forneck said that, unlike the European Union Commission, which usually sets itself a specific timetable for decisions on corporate mergers and acquisitions, FTC rulings on such corporate activity are open-ended.

"So far, no notification has been forwarded," Forneck said. "We reckon there will be a decision in the coming days."

Aventis also said it hasn't yet been notified of a decision by the FTC, and said it expects a decision in the coming weeks.

The FTC ruling is the only hurdle remaining. The Commission conditionally approved the takeover April 17 , stipulating that Bayer must sell Aventis' entire European seed treatment business, as well as its best-selling insecticide, Fipronil, and another insecticide, Ethiprole, which isn't yet on sale in Europe.

It also ruled that Bayer must give up a number of exclusive licenses for various products in one or more E.U.member states and discontinue several third- party distribution agreements.

Aventis CropScience is the agrochemicals unit of French life sciences company Aventis SA .