For $63 billion dollars, German life sciences and pharmaceutical company Bayer has purchased agribusiness company Monsanto. The merger will be finalized this week, and Monsanto will no longer be a company name. Monsanto’s products including glyphosate-containing RoundUp, will retain their brand names and become a part of the Bayer portfolio. This comes as no surprise since the Monsanto Company faced opposition from anti-GMO supporters, and multiple lawsuits over the safety of their products. This acquisition will result in concentration of markets involving GMO seed and herbicides. With this merger, just three companies- the US, Germany, and China will control much of the global agricultural industry.
Our friends at the Center for Food Safety have numerous articles about the merger. Read more about the name drop and safety concerns here.