Watchdog groups raise concerns after Wall Street Journal reports that Bayer's bid to acquire Monsanto has been approved.
Watchdog groups sounded alarms on Monday after the Wall Street Journal reported that the proposed mega-merger of Bayer and Monsanto has cleared its final regulatory hurdle in the United States.
The reported approval from the Justice Department came "after the companies pledged to sell off additional assets," the Journal reported, and despite concerns raised by hundreds of food and farm groups. It also comes weeks after the European Commission gave its thumbs up.
"The approval of the third supersized seed merger, after ChemChina-Syngenta and Dow-DuPont," said Wenonah Hauter, executive director of Food & Water Watch, "leaves farmers vulnerable to price gouging for seeds and other supplies and strengthens the hold a few dominant corporations have over the entire food system."