Despite widespread opposition among the residents of Europe, the European Union is set to grant anti-trust approval of a $62.5 billion merger between German chemical giant Bayer and the U.S-based Monsanto, according to reports on Wednesday.
“The European Commission should stop this merger from hell.”
—Joerg Rohwedder, WeMove.eu
Reuters reported that sources familiar with the review expect it to be approved soon. Bayer, which has agreed to sell off some assets to appease European regulators, would only say that it was continuing “a constructive dialogue with the EU competition watchdog” and “the regulatory process in Europe was further advanced than in the United States where the deal also requires clearance.”
The Wall Street Journal also reported on the likelihood of imminent EU approval, citing anonymous sources, and noted that a review by the U.S. Justice Department is ongoing. Bayer chief executive Werner Baumann, who spoke with the Journal, “expressed optimism that the deal would ultimately win regulatory approval, with the Committee on Foreign Investment in the U.S., or CFIUS, and authorities in Brazil already giving the nod.”
As the April 5 deadline nears for the European Commission—the EU’s executive arm—to make a final decision, food, farming, and corporate accountability groups are working together to raise awareness about the concerns posed by what they are calling the #MergerFromHell.
Anne Isakowitsch, campaign manager at the global advocacy group SumOfUs, warned that “a merged Bayer-Monsanto would be relentless in its pursuit of putting corporate profits over the protection of small farms—eventually driving up prices for consumers.”
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