The American Antitrust Institute (AAI), Food & Water Watch (FWW), and National Farmers Union (NFU) sent a joint letter to the U.S. Department of Justice (DOJ) on the proposed merger between agricultural input giants Bayer AG and Monsanto Co. The three groups offered their in-depth analysis of how the proposed deal would likely harm competition, farmers, and consumers. The letter notes that the merger would complete a sweeping restructuring of the agricultural biotechnology industry, creating the “Big 3” companies where just two years ago, there were six major rivals.
“The merger substantially eliminates competition across a number of important markets. It could squeeze out smaller rivals and saddle farmers and consumers with higher prices, reduced choice, and less innovation,” said AAI President Diana Moss.
Given the merger’s potential adverse effects, the letter encourages the DOJ to be skeptical of any claims that the companies need to be bigger to innovate or that planned cuts to fundamental research will benefit farmers and consumers.… Continue readingRead More »