Grassley announces hearings on seed, chemical industry consolidation

Grassley announces hearings on seed, chemical industry consolidation

Committee has no jurisdiction over mergers, but Grassley said constituents are concerned.

Senate Judiciary Committee Chairman Chuck Grassley announced there will be a hearing on the increasing consolidation within the seed and chemical industry in late September. 

“The seed and chemical industries are critical to agriculture and the nation’s economy, and Iowans are concerned that this sudden consolidation in the industry could cause rising input costs in an already declining agriculture economy,” Grassley said in a media statement. 

The hearing will focus on the transactions currently being reviewed by antitrust regulators, and the current trend in consolidation of the seed and chemical industries.

Related: Bayer raises bid for Monsanto to $125 per share

Senate Judiciary Committee Chairman Chuck Grassley announced there will be a hearing on the increasing consolidation within the seed and chemical industry in late September. (Photo: mindscanner/Thinkstock)

Dow and DuPont have announced a merger, ChemChina plans to buy Syngenta and Bayer and Monsanto are in merger talks.

Related: Dow-DuPont shareholders approve $59 billion merger of equals

While details have not been finalized, views from the companies under review by antitrust regulators, consumers and antitrust experts will all be represented at the hearing.

Related: ChemChina makes $43 billion bid for Syngenta

Related articles:

-Grassley’s announcement follows an announcement by the Committee on Foreign Investment in the U.S. that it cleared ChemChina’s planned takeover of Syngenta. – The Wall Street Journal

-The Senate Judiciary Committee has no formal say over whether the deals may proceed. – Reuters

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