Monsanto and Bayer officials met together with about 200 members of the American Soybean Association and asked them to support the proposed merger between the two companies. Monsanto Chief Technology officer Robb Fraley and Bayer AG Board Member Liam Condon talked about the potential $66 billion-dollar acquisition of Monsanto with members of the ASA and the United Soybean Board at the USB Winter Meeting in St. Louis. Fraley told the crowd, “I’m here to ask for your support.” Farm Journal research says the merger would create a company controlling nearly 37 percent of the corn seed market and 30 percent of the market for soybean seeds. The deal is in the hands of regulators and won’t close until late next year. Condon reinforced the message he’s already given to regulators: that they’re willing to sell off where the companies overlap if objections are made on anti-trust grounds. Condon said those objections may happen in cotton and canola, saying those are two of the more likely areas.
From the National Association of Farm Broadcasting news service.