NEW YORK (TheStreet) --German pharmaceutical company Bayer (BAYRY) announced plans last month to purchase U.S.-based agricultural company Monsanto (MON) for $66 billion or $128 per share of Monsanto stock. However, many have questioned whether regulators will approve the deal.

"I think it closes," York Capital Management founder Jamie Dinan said during Tuesday's "Fast Money Halftime Report" on CNBC

"Monsanto is basically a seed company, Bayer is tiny in seeds and so what you find is there is virtually no overlap," Dinan explained. 

That said, questions of anti-trust laws have surrounded the deal. Should regulators approve, it would create the world's largest agribusiness, selling 29% of the world's seeds and 24% of the world's pesticides, according to Vox. 

However, "the deal is so big at $60 billion there's just not enough arbitrage money," Dinan noted.

Ultimately, Dinan believes this is a deal investors should want to play.

It's a play because should the deal close it will yield investors "a lot" of money, and a "manageable" downside. Plus "it's almost independent of all the noise and volatility that we talk about," Dinan noted.

He then described the "trick" if investors are looking to profit from the deal between Monsanto and Bayer.

"Keep your position side manageable early on. You can't be too big right now because a lot could go wrong. Learn more so as things get closer, you can step up and get bigger," Dinan said.

 Both shares of Bayer and Monsanto were higher in early afternoon trading on Tuesday.