Monday, ChemChina officials said a U.S. national security panel has cleared its proposed acquisition of Syngenta. Nebraska Farmers Union President John Hansen is concerned about the Chinese company clearing this regulatory hurdle, although there are several other steps they must take for final approval. He says the effects on U.S. agriculture and the economy from this merger include less competition and higher prices for crop inputs.
He says his organization will be speaking with members of Congress and outlining their concerns with not only the ChemChina-Syngenta merger, but also Dow DuPont and the possibility of Bayer AG buying Monsanto.
Hansen says if all three of these pending mergers are approved the concentration level in the seed and ag chemical industry will skyrocket.
The $43 billion ChemChina-Syngenta merger still requires approval from anti-trust and other U.S. regulators as well from those in other countries.
