Bayer’s proposed takeover of Monsanto may be sidelined according to industry sources. Meanwhile, one key opponent of possibly anti-competitive deals is weighing in on the topic. Senate Judiciary Committee Chair Chuck Grassley suggests the last thing agriculture needs is more supplier concentration.

Grassley spoke just before an industry-sourced Reuters report that Monsanto would reject Bayer’s $62-billion bid to acquire Monsanto, and would seek a higher price.

Grassley warns such deals with potentially big impacts on agriculture or other industries could bring added scrutiny from him and his committee.

Bayer officials claim Monsanto would be a good fit for Bayer’s own seed and chemical business. Monsanto also sees logic in combining with Bayer but feels its shareholders deserve a better offer. Reuters said its sources asked not to be identified since these deliberations are confidential.

The American Farm Bureau and other Ag groups were keeping a close eye on Bayer-Monsanto developments, but acknowledge agribusiness continues to consolidate. Companies are seeking greater efficiencies and cost savings with the moves.