German lawmakers called on regulators to curb Bayer AG’s $66-billion takeover of U.S. seed giant Monsanto Co. in a skepticism-laced parliamentary session that highlights the backlash to the deal Bayer faces in its home market.
“More than 70 percent of Germans say they don’t want genetically-modified food on their plates, but that’s exactly part of the strategy of this merger,” said Katharina Droege, a legislator from the Greens. She warned of “massive negative consequences” for consumers and called on regulators to block the takeover since lawmakers have no legislative authority to stop the deal.
Buying Monsanto would give Bayer, based in the industrial western German city of Leverkusen, about 35 percent of the global market for seeds and farm chemicals. The drug and chemicals conglomerate is considering dropping the Monsanto name to avoid sullying its reputation, according to people familiar with the deal. No decision has yet been made.
The deal also faces antitrust reviews in some 30 jurisdictions worldwide.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI