Source: 30dB.com – Bayer-and-Monsanto
Back in May 2016, Bayer made an unsolicited offer to buy Monsanto at $122 a share, or about $66 billion. The deal has since depreciated to $62.5 billion, but that’s still a big enough coupling to give the Justice Dept. pause. To alleviate antitrust concerns, Bayer will have to sell off some of its assets, including its own Roundup competitor, to German rival BASF. Monsanto’s Roundup is among the most widely used pesticide by commercial farmers, and after Justice gave the merger a green light, many farmers began to worry this would lead to higher prices for the pesticide. “These companies want to make more money, they want to raise prices,” Agriculture analyst Mark Connelly told Business Insider. “No company in this industry needs these deals in order to innovate.” The merger pulls 76 percent negatives, with Social wishing the Feds had blocked the whole deal. –Hugo Guzman
Republished from 30dB