A PYMNTS Company

US: Senate looking closer at agriculture merger

By  |  September 20, 2016

It’s taken months of negotiating, but last week Monsanto Inc. accepted a $66 billion offer from Bayer AG. However, due to plans to reduce the number of major agrochemical companies in the US and Europe from 6 to 4, the US Senate is concerned about rising costs for farmers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Republican Sen. Charles Grassley of Iowa, the Senate Judiciary Committee chairman, noted thatlow crop prices and higher seed prices are putting farmers under “tremendous pressure” as the agriculture economy has slowed in the last couple of years.

    Grassley spoke before the Senate hearing scheduled on Tuesday and mentioned his concerns about the consolidation of the agricultural biotech industry noting that the Department of Justice is looking at the Dow Chemical and Dupont merger and the Federal Trade Commission is reviewing the merger between Syngenta AG and China National Chemical Corp.

    Full Content: Phys.org

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.