Stay current on the latest developments from agencies including the CFPB, Federal Reserve, FDIC, and OCC to advise clients on real-life regulatory situations.
By Fawn Johnson
Nineteen Democratic senators July 21 told the Justice Department it should “conduct a thorough and impartial analysis” of Bayer AG’s proposed $66 billion merger with Monsanto Co.
The senators led by Amy Klobuchar (D-Minn.) and Jeff Merkley (D-Ore.) wrote Attorney General Jeff Sessions that the DOJ’s antitrust division should be “independent of political influences and carefully consider the impact this merger will have on agricultural businesses, farmers, and consumers.”
The letter comes as some of the same lawmakers have told the DOJ to maintain independence from the White House in another proposed merger between AT&T Inc. and Time Warner Co. The most recent letter specifically mentioned a meeting between President Donald Trump and leaders of Bayer and Monsanto before he was sworn in. “We find it disturbing that in January, President-elect Trump met with both Bayer CEO Werner Baumann and Monsanto CEO Hugh Grant to discuss their transaction,” the letter said.
The Bayer-Monsanto merger is the third in a trio of mega-deals in the agro-chemical business, following the completed merger between Dow Chemical Co. and DuPont Co. and Syngenta AG’s deal to merge with China National Chemical Corp. Both Dow-DuPont and Syngenta-ChemChina needed approval from multiple antitrust jurisdictions, and both merged pairs were required to divest significant parts of their businesses to clear their deals.
Even with the remedies that are supposed to retain the competitiveness of the market, the rearrangement of major players in the industry has alarmed farmers and environmental organizations. They fear that greater consolidation means farmers have fewer options and will be forced to buy from a smaller pool of industry players and absorb their higher prices.
The senators’ letter alluded to the impact on farming. “We encourage the antitrust division to work with the Department of Agriculture to evaluate the impact that this deal will have on competition in the agricultural inputs market and on farmers who work every day to feed our world,” it said.
The DOJ declined to comment.
To contact the reporter on this story: Fawn Johnson in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Seth Stern at email@example.com
Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)