Bayer executives meet with president-elect Donald Trump

The German company will need federal regulatory approval for its deal to purchase Monsanto.

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German drugs and pesticides maker Bayer, which will need regulatory approval for its $66 billion deal to buy U.S. seeds giant Monsanto, said company chief executives had a productive meeting with U.S. president-elect Donald Trump.

Trump talked to Bayer Chief Executive Werner Baumann, Monsanto CEO Hugh Grant and some of their advisers in New York, his transition team said on Wednesday, part of meetings before he takes office later this month.

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"It was a productive meeting about the future of agriculture and the need for innovation," a Bayer spokesman said on Thursday, declining to provide more details for the moment.

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