USA Today reports “Bayer to acquire Monsanto for $66B,” The paper reports it would be the “largest cash acquisition proposal on record.”
ROGER JOHNSON, via Andrew Jerome, ajerome[at]nfudc.org, @nfudc
National Farmers Union
President Roger Johnson issued the following statement this morning: “Consolidation of this magnitude cannot be the standard for agriculture, nor should we allow it to determine the landscape for our future. The merger between Bayer and Monsanto marks the fifth major deal in agriculture in the last year, preceded by an approval of the Syngenta/ChemChina acquisition and proposed mergers between Dow/DuPont, Potash Corp./Agrium and John Deere/Precision Planting LLC.
“For the last several days our family farm and ranch members have been on Capitol Hill asking members of Congress to conduct hearings to review the staggering amount of pending merger deals in agriculture today. We will continue to express concern that these megadeals are being made to benefit the corporate boardrooms at the expense of family farmers, ranchers, consumers and rural economies.
“We are pleased that next week the Senate Judiciary Committee will be reviewing the alarming trend of consolidation in agriculture that has led to less competition, stifled innovation, higher prices and job loss in rural America. We underscore the importance that all mergers, including this recent Bayer/Monsanto deal, be put under the magnifying glass of the committee and the U.S. Department of Justice.”
National Farmers Union has been “working since 1902 to protect and enhance the economic well-being and quality of life for family farmers, ranchers and rural communities through advocating grassroots-driven policy positions adopted by its membership.”