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Congressman Garamendi Urges Congress to Scrutinize Proposed Bayer-Monsanto Merger

Statement

Date: Sept. 16, 2016
Location: Washington, DC
Issues: Business and Consumers Drugs

Today, Congressman John Garamendi (D-CA), formerly a member of the House Committee on Agriculture, urged the Senate Judiciary Committee to conduct a thorough review of Bayer AG's proposed acquisition of Monsanto Company. In the letter to Chairman Grassley (R-IA) and Ranking Member Leahy (D-VT), Garamendi expressed concern about Bayer AG's comments that it expects to create $1.5 billion in "synergies" on account of the merger.

"I am concerned that when Bayer says "synergies,' what they really mean is elimination of facilities in my district that provide high-paying jobs to constituents and services to farmers," said Garamendi. "This merger threatens jobs in my district and risks significant loss of competition in the seed and agricultural industry, and I believe it deserves close scrutiny by Congress and the Department of Justice."


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