The National Farmers Union is concerned about continued consolidation among agribusinesses. After hearing the news of a $66 billion merger proposal between Bayer and Monsanto, NFU President Roger Johnson said consolidation of this magnitude cannot be the standard for agriculture, nor should we allow it to determine the landscape of agriculture. He said, “The merger deal between Bayer and Monsanto marks the fifth major deal in the last year, preceded by an approval of the Syngenta/Chem China acquisition, as well as proposed mergers between Dow/DuPont, Potash Corp/Agrium, and John Deere/Precision Planting.” He said farm and ranch families 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 corporate boardrooms rather than family farmers, ranchers, consumers, and rural economies,” he added.
From the National Association of Farm Broadcasting news service.
From: National Farmers Union
NFU Condemns Bayer/Monsanto Deal, Asks for Critical Review of Consolidation in Ag
In response to today’s announcement of a $66 billion merger deal between Bayer AG and Monsanto Co., National Farmers Union President Roger Johnson issued the following statement:
“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.