Congressman Garamendi Urges Congress to Scrutinize Proposed Bayer-Monsanto Merger
Today, Congressman John Garamendi (D-CA), formerly a member of the House Committee on Agriculture, urged the Senate Judiciary Committee to conduct a thorough review of Bayer AG’s proposed acquisition of Monsanto Company. In the letter to Chairman Grassley (R-IA) and Ranking Member Leahy (D-VT), Garamendi expressed concern about Bayer AG’s comments that it expects to create $1.5 billion in “synergies” on account of the merger.
“I am concerned that when Bayer says ‘synergies,’ what they really mean is elimination of facilities in my district that provide high-paying jobs to constituents and services to farmers,” said Garamendi. “This merger threatens jobs in my district and risks significant loss of competition in the seed and agricultural industry, and I believe it deserves close scrutiny by Congress and the Department of Justice.”
The full text of Garamendi’s letter to Sens. Grassley and Leahy is available here. Garamendi intends to address this issue at an upcoming meeting of his Agricultural Advisory Board.