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CFIUS clears Bayer's planned takeover of Monsanto

Monsanto DeKalb brand hybrid corn is loaded into a Case IH planter in a field in Princeton, Ill., April 18, 2016.
Daniel Acker | Bloomberg | Getty Images
Monsanto DeKalb brand hybrid corn is loaded into a Case IH planter in a field in Princeton, Ill., April 18, 2016.

Germany's Bayer said that the Committee on Foreign Investment in the United States (CFIUS) had no national security concerns about the drugmaker's planned takeover of U.S. seeds group Monsanto, giving its go-ahead.

Bayer and Monsanto will continue to cooperate with other authorities to complete the transaction in early 2018, Bayer said in a statement on Friday.