Stop the Dangerous Monsanto-Bayer Merger
- by: Kailey Luz
- recipient: Attorney General Lynch, Department of Justice; Edith Ramirez, Chair, Federal Trade Commission; Margrethe Vestager, European Commission
On Wednesday, the controversial company Monsanto was bought by the German chemical corporation Bayer. Some sources are reporting that the merger was worth $66 billion. The deal is set to create one of the world's largest agriculture conglomerates, and comes in a year full of some of the biggest and most worrisome merges in history.
Monsanto has a long history of poor corporate practice. In recent years, it has been the subject of protests and legal cases throughout the world. The public distrust is well-deserved: Monsanto opposes consumer freedom and GMO labelling, spends tens of millions of dollars in lobbying, monopolizes the industry and pushes small family farms out of business, and disregards environmental consequences. Many studies link the use of Monsanto products to the terrifying loss of millions of bees each year.
Moving forward, over a quarter of the planet's pesticide and seed supplies will likely be controlled and sold by the new mega-conglomerate. With this much control of the market, it is very possible for the group to further monopolize the industry. Price hikes are nearly inevitable, for both farmers and consumers. The National Farmers Union has publicly opposed the deal.
The companies claim this will support innovation. However, reduced competition in the market tends to mean the opposite. The news also comes just a few decades before the planet's population is set to reach 10 billion. As the number of people to feed grows by over 30%, control over most of the planet's seeds and pesticides means a lot of power.
A company with a bad reputation and poor environmental standards is on track to become even more powerful. The Federal Trade Commission's mission statement says one of its goal is "to prevent business practices that are anticompetitive or deceptive or unfair to consumers." The Monsanto-Bayer merger threatens competition and consumer fairness, and it is the FTC's job to oversee this. Sign now to demand that U.S. and EU regulators investigate and block the massive deal.
On Wednesday, the controversial Monsanto was bought by the German chemical corporation Bayer. Some sources are reporting that the merger was worth $66 billion. The deal is set to create one of the world's largest agriculture conglomerates, and comes in a year full of some of the largest and most worrisome merges in history.
Monsanto has a long history of poor corporate practice. In recent years, it has been the subject of protests and legal cases throughout the world. The public distrust is well-deserved: Monsanto opposes consumer freedom and GMO labelling, spends tens of millions of dollars in lobbying, monopolizes the industry and pushes small family farms out of business, and disregards environmental consequences. Many studies link the use of Monsanto products to the terrifying loss of millions of bees each year.
Moving forward, over a quarter of the planet's pesticide and seed supplies will likely be controlled and sold by the new mega-conglomerate. With this much control of the market, it is very possible for the group to further monopolize the industry. Price hikes are nearly inevitable, for both farmers and consumers. The National Farmers Union has publicly opposed the deal.
The companies claim this will support innovation. However, reduced competition in the market tends to mean the opposite. The news also comes just a few decades before the planet's population is set to reach 10 billion. As the number of people to feed grows by over 30%, control over most of the planet's seeds and pesticides means a lot of power.
A company with a bad reputation and poor environmental standards is on track to become even more powerful. The Federal Trade Commission's mission statement says one of its goal is "to prevent business practices that are anticompetitive or deceptive or unfair to consumers." The Monsanto-Bayer merger threatens competition and consumer fairness, and it is the FTC's job to oversee this.
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