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Germany: Monsanto – Bayer merger faces lawmakers’ opposition

 |  September 24, 2016

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

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