Tuesday, the U.S. Justice Department conditionally approved Bayer’s $62.5 billion acquisition of Monsanto. DOJ also said that Bayer and Monsanto will have to divest of $9 billion in assets largely to BASF for the Trump administration to give the final go ahead of the Bayer Monsanto merger. The National Farmers Union is condemning the deal. South Dakota Farmers Union President Doug Sombke sees this as a bad deal for farmers and rural communities.
He says there has to be antitrust concerns with this acquisition although it’s being allowed to proceed.
Sombke says it’s time for Congress to step up to the plate in overseeing these mega mergers and make sure antitrust laws are followed.
Sombke is concerned that this conditional approval will lead to a precedent setting situation where other larger mergers will get the go ahead.
