The 2016 acquisition by Bayer of seed and chemical giant Monsanto has turned out to be a rotten deal. Shares in the German company have fallen 30 percent since the $63 billion deal closed, and are now at just 50 percent of their value in 2015, when the company was Germany’s most valuable.
Chiding California regulators for "misleading labeling requirements," the EPA told herbicide makers to remove cancer warnings from containers of glyphosate, the most widely used weedkiller in the world, in a step that would benefit seed and ag chemical giant Bayer. Meanwhile, a court-appointed mediator dismissed as "pure fiction" a report that the German company offered $8 billion to settle all U.S. lawsuits against Roundup, Bayer's glyphosate-based herbicide.
Sen. Elizabeth Warren announced her agriculture policy platform Wednesday, three days before she is set to participate in a Democratic presidential candidates’ forum in rural Iowa. The platform calls for curtailing consolidation in agriculture by breaking up big agribusiness companies, reversing agriculture mega-mergers, and more. (No paywall)
When Bayer completes its $63 billion purchase of Monsanto, which is expected to occur on Thursday, the world's largest seed and agricultural company will be named Bayer, announced the giant German company on Monday, ending speculation on the new corporate identify. "Monsanto will no longer be a company name."
The Department of Justice on Tuesday approved Bayer’s $66 billion acquisition of Monsanto, completing a two-year approval process for the mega-merger that spanned several countries. The combined company will be the largest agrochemical and seed company in the world with about $48 billion in annual sales.
A new poll and report from the Konkurrenz Group found that the vast majority of farmers disapprove of the proposed merger between Bayer and Monsanto. Nearly a thousand farmers, from 48 states, responded to the poll.
German ag and healthcare giant Bayer said it is “in exclusive talks with BASF on the sale of its entire vegetable seeds business” as a way of gaining European approval for its takeover of Monsanto.
Monsanto’s dominance of the market for genetically modified soybeans may soon be threatened, as competitors BASF and DowDuPont prepare to bring their versions of the seed to market.
The world’s largest seed and ag-chemical company said it expects U.S. farmers will plant 40 million acres of its dicamba-tolerant GMO soybeans this year, double the 2017 total and equal to four of every 10 acres of projected soybean sowings.
EU regulators are looking "very carefully" at competition issues in Bayer's proposed purchase of Monsanto to make sure farmers will have a choice of products at affordable prices, said Bloomberg. The wire service said Bayer, based in Germany, was to receive a so-called statement of objections as soon as this week, which could lead the companies to offer a package of concessions.