European Commission Begins Probe of Possible Bayer-Monsanto Monopoly

August 22, 2017 01:07 PM
 
 

The European Commission is expressing concern over a potential monopoly in the pesticide and seeds market, which is igniting an investigation into Bayer’s plans to buy Monsanto for $66 billion.

If the deal goes through, the Commission says it would be the world’s largest integrated pesticides and seeds company, limiting competitors in Europe and possibly leading to higher prices.

Considering the scope of the merger, Bayer said in a statement a more thorough investigation was expected.

 

“The Commission has preliminary concerns that the proposed acquisition could reduce competition in a number of different markets resulting in higher prices, lower quality, less choice and less innovation,” said Bayer in a statement Tuesday.

In a separate statement, Monsanto said the companies remain committed to working with regulators to receive approval by the end of the year.

It’s been roughly one year since Bayer made its first offer to Monsanto. At the time, Monsanto rejected the $55 billion bid, calling it “inadequate.”

Back to news


 

RELATED CONTENT

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by Barchart.com
brought-by
Close