BUTLER COUNTY, IOWA – Senate Judiciary Committee Chairman Chuck Grassley today made the following statement regarding the Justice Department’s announced decision requiring certain divestitures and enforcement provisions in the proposed merger between Bayer and Monsanto.
“I’m grateful that the Justice Department undertook a thorough review in this case, and I’m encouraged that it has put forward serious divestiture requirements and robust enforcement provisions to maintain a fair marketplace. In recent years, we’ve seen rapid concentration in the agriculture sector that has put American farmers and ranchers on edge. Competition is critical in this sector. It is essential for the American farm economy, and it benefits all Americans who depend on a safe and abundant food supply. I’m pleased that the Department took into account the concerns that I raised over the last two years since the merger was initially proposed. I will continue to keep a close eye on consolidation within the agriculture industry and call for vigorous enforcement of the antitrust laws.”
Grassley’s statement follows a Justice Department announcement requiring the divestiture of multiple seed, chemical and seed-treatment businesses, as well as certain research and development capabilities from Bayer and Monsanto. Grassley raised concerns with the Bayer-Monsanto merger in a Senate Judiciary Committee hearing in September 2016 and in a subsequent letter to the Justice Department’s Antitrust Division.
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