Bloomberg News takes a stab at what the likelihood is outraged citizens in Europe and the USA can stop this disastrous deal from going through. Jim
“Two giants of the farming and chemical industries agreed to merge Wednesday in a $66 billion deal: the U.S.’s Monsanto and Germany’s Bayer, the original maker of aspirin. It’s the year’s biggest deal and will create the world’s largest supplier of seeds and farm chemicals, with $26 billion in combined annual revenue from agriculture. If the merger goes through, it will combine two companies with a long and storied history that shaped what we eat, the drugs we take and how we grow our food.
“Two friends making dyes from coal-tar started Bayer in 1863, and it developed into a chemical and drug company famous for introducing heroin as a cough remedy in 1896, then aspirin in 1899. The company was a Nazi contractor during World War II and used forced labor. Today, the firm based in Leverkusen, Germany, makes drugs and has a crop science unit, which makes weed and bug killers. Its goal is to dominate the chemical and drug markets for people, plants and animals…
“The deal would be the biggest ever in agriculture, but it’s not a sure thing. There could be antitrust hurdles. A combined Bayer-Monsanto would be the biggest player in an industry with only three megacompanies left standing. Plus, the deal could face a backlash in Germany, where the majority of citizens question the safety of eating and growing modified food. The mistrust is so deep, it’s illegal to grow GMO crops for food there. Monsanto is considered a poster child for evil American corporations in Germany…”