Critics of agricultural consolidation joined forces Tuesday, November 14, in Washington to release reports calling on the Department of Justice (DOJ) to reject the merger between Bayer AG and Monsanto Co.
Gathering at the National Press Club to air their grievances against the US$63.5 billion merger were the Organization of Competitive Markets, the National Family Farm Coalition, the Ranchers-Cattlemen Action Legal Fund, Consumer Federation of America, Friends of the Earth, the Open Markets Institute and the group SumOfUs.
The groups also stated they delivered more than 1 million signatures on a petition to the DOJ calling on the department to block the proposed merger.
Bayer and Monsanto announced their merger in September 2016 and it continues to get regulatory scrutiny globally. The European Commission last week announced a March 5, 2018, deadline to complete its regulatory review of the company. Bayer already has agreed to sell some seed and herbicide businesses to BASF as a condition to completing the deal. Originally, the deal was valued at US$66 billion, but Bayer revalued the merger deal at US$63.5 billion last month, according to Reuters.
Combined, Bayer and Monsanto would be the world’s largest integrated pesticides and seeds company, the EU noted in August when it began vetting the merger. At the time, the EU listed several preliminary concerns about market impacts.
Multiple farm groups have written the DOJ over the past year expressing concerns about the merger as well.
Makan Delrahim, who heads the Antitrust Division at the Department of Justice, was confirmed in late September. The Trump administration has not made any official comments about the Bayer-Monsanto merger.
Because Bayer is based in Germany, the sale must also go through the US Committee on Foreign Investment in the US The companies stated last summer they were continuing to move through the CFIUS process, but there has been no announcement whether the merger has been approved by the committee, which does not release information on its proceedings to the public.
Full Content: Europa
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