Lee, Klobuchar React to Proposed Bayer- Monsanto Merger

September 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, issued the following statements on the proposed acquisition of Monsanto by Bayer:
“The proposed acquisition of Monsanto by Bayer raises serious antitrust issues,” said Sen. Lee. “Bayer and Monsanto are two of the leading companies that provide key inputs, such as seeds and herbicides, to farmers to grow essential crops – and the combination of these two companies may have troubling implications for farmers and American consumers. The transaction has the potential to result in a significant loss of competition and reduced incentives and ability to innovate, thereby raising prices and reducing consumer choice. I will encourage the DOJ or FTC to closely scrutinize the transaction and will consider whether a hearing is necessary to fully explore the competition issues raised by so much consolidation in such a short time.”
“The current wave of consolidations in the seed industry has major implications for the agriculture supply chain that must be examined. This proposed acquisition of Monsanto by Bayer merits close scrutiny by regulators to examine its potential impacts on farmers and consumers across Minnesota and our country,” said Sen.  Klobuchar. “We must consider not just the merger's impact on seed prices, but whether it will also stifle innovation and competition. As Ranking Member of the Antitrust Subcommittee, I take seriously the responsibility to provide oversight over potential consolidations and to ensure that antitrust laws are vigorously enforced to protect competition.”