The Obama administration has added USDA to the secretive inter-departmental Committee on Foreign Investment in the United States for its review of the merger of state-owned ChemChina and Swiss-based Syngenta, said Reuters. Farm-state senators wanted USDA to be included in the review to make sure the impact of the deal on U.S. food security and food safety would be considered.
Michigan Sen. Debbie Stabenow, who pressed for inclusion of USDA, said the decision “is great news for our farmers and ranchers who are looking for certainty” there will be no adverse impact from the $43 billion merger. Syngenta is one of the largest seed and ag chemical companies in the world. The Treasury Department, which chairs CFIUS, declined to discuss details of the review, said Reuters.