Lee, Klobuchar Call For “Careful Consideration” of Three Agribusiness Mergers

December 14, 2016

WASHINGTON - Today, Senators Mike Lee (R-UT) and Amy Klobuchar (D-MN), the chairman and ranking member of the Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, sent a letter to Federal Trade Commission Chairwoman Edith Ramirez and Department of Justice Antitrust Division Principal Deputy Assistant Attorney General Renata Hesse calling for “careful consideration” of three recent proposed agribusiness mergers.
“We write to you regarding three proposed transactions in the seed and agrochemical industry: the merger of Dow Chemical and Dupont, the acquisition of Syngenta by ChemChina, and the acquisition of Monsanto by Bayer,” the letter reads.  “These transactions are currently being reviewed by either the Federal Trade Commission or the Department of Justice. While we take no position about the legality of any of the proposed transactions under the antitrust laws, we believe they raise important competition issues that the Department and Commission should carefully review.”
The Senate Judiciary Committee recently held a hearing titled, “Consolidation and Competition in the U.S. Seed and Agrochemical Industry.” You can read testimony from the hearing here.

The letter can be found here:

Letter to DOJ and FTC Regarding Mergers in Seed and Agrochemical Industry by Senator Mike Lee on Scribd