Monday, April 9, 2018
DOJ Approval of Bayer-Monsanto Mega-Merger Hangs Farmers Out to Dry
Today, The Wall Street Journal reported that the U.S. Department of Justice has decided to allow Bayer AG’s mega-deal to acquire Monsanto Co.
The Organization for Competitive Markets, which has fought on behalf of U.S. family farmers to block the mega-merger, issued the following statement:
“Today’s news makes it clear that our anti-monopoly laws are completely worthless and the U.S. Department of Justice merger review process is pointless. Economists have well established that there is a strong likelihood of market abuse when four companies control 45% of the market, and the fact that DOJ has now allowed one company to control 77% of all seed corn, 69% of all seed traits and 58-97% of the markets in cotton, soybeans, and canola, means DOJ has just authorized a monopoly.
America’s family farmers will pay the price for this action, and consumers will see fewer choices in the market. Where is the justice in the Department of Justice?”
It is clear to us that our laws don’t work for the people, and therefore our attention and our efforts must be focused on Capitol Hill to call on Congress to take action to stop agricultural mergers until stronger anti-monopoly laws are implemented.
For more information on U.S. farmers’ strong opposition to the merger, see our March 8, 2018 poll results.
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