- Category: Health
- Last Updated on Friday, 16 September 2016 07:48
- Written by Seraphim
Breaking News Just In - America's largest agricultural company Monsanto MON has agreed to takeover by Germany's Bayer BAYRY for $127 a share creating the world's largest crop-science company.
Bayer appears desperate to get a deal done - though successful it took Bayer five tries/offers since May (4 months) to get the Monsanto board to accept.
Together the agri industrial companies will control more than half of cotton cropland in the United States by acreage. The use of seeds and pesticides can only increase given that Bayer is a German-based company with more leverage in Europe where Monsanto's controversial products have encountered more opposition than in America.
The deal still has to be approved by the US senate but that shouldn't be a problem given the landslide of takeovers that have been approved recently, among them Wang Jianlin Wanda Group takeover of theater chain Carmike (gives it total control of US cinema complexes as it already owns AMC along with UK Odeon deal completed in July 2016), Le Eco takeover of Vizio (US largest independent television manufacturer).
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The Monsanto deal will destabilize the industry. It gives one company total and complete control of herbicides, genetic traits of seeds.
More - any future takeover of the new company by a foreign entity hostile to US interests would be under the review of the European Union with the United States having little to no say in the matter. This was the case with Hutchison Whampoa takeover of Three UK (O2 UK) the United Kingdom's second largest telecommunications company; the takeover was rejected by the UK but because the European Union's Commission voted in favor of it the deal went through; there wasn't even a delay.
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