Syngenta has agreed to a $43 billion cash offer from ChemChina to purchase their pesticide business. That’s pending shareholder and regulatory approvals. Minnesota Farmers Union President Doug Peterson says his group opposes these type of agribusiness deals, but thinks the trend will continue.

If approved the transaction would represent the largest foreign acquisition by a Chinese company. Peterson says the purchase would not benefit farmers and ranchers.

Peterson says U.S. government regulators don’t have a very good track record of stopping mega mergers and that’s a condemnation of not only the present administration but past ones as well.

If it’s approved, for Syngenta, they’ll gain new capital and greater access to the China market and for ChemChina, it gives them access to Syngenta’s advanced biotechnology for developing seeds.