Agriculture giants Bayer, Monsanto merging
John Boyd & Mike Weaver Opinion Article for The Hill: Earlier this year, we planted our crops — soybeans, corn, and wheat — and began feeding our spring chickens. Farmers like us have been doing this for generations.
But next year, when we turn to our spring tasks again, the entire farming economy will have shifted under our feet as a result of a merger wave currently underway among the world’s agricultural giants. They produce the chemicals and seeds our businesses need.
When they are done, the market will be dominated by two large and two smaller companies — spelling disaster for American farmers and consumers who will see food costs go up and innovation decline.
This series of multi-billion dollar agriculture mergers will have deeply worrisome effects in the United States. Monsanto is set to merge with Bayer in a $66 billion deal, meanwhile Dow Chemical and DuPont Chemical are merging to create a $130 billion company. ChemChina recently bought Syngenta for $43 billion. The Department of Justice is in the midst of reviewing the first two mergers, and the Federal Trade Commission approved the third earlier this year. Full Article:
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