Unfortunately for those who care about non-toxic, GMO-free food, the company is not going out of business any time soon: it will now merge with the German pesticide, GMO, and pharmaceutical giant Bayer after the two companies’ $62.5 million deal was given antitrust approval today.
The news was broken by the Wall Street Journal and comes a little over a month out from the eighth international March Against Monsanto (May 19), scheduled for dozens of cities across the world.
Now, the time has come to March against what could be one of the most menacing corporations of all-time — one that could control more than a quarter of the world’s seed and pesticide market when it’s all said and done, and one that has the potential to change the future of food as we know it.
Monsanto Name Could Be Gone After Bayer Merger
According to a report from the Wall Street Journal, which broke the news today, antitrust regulators have officially approved the Monsanto-Bayer merger, placing unprecedented control into the hands of two of the world’s most powerful chemical corporations.
The deal, approved for $62.5 billion, sent Monsanto’s stocks soaring toward a four-year high, Reuters reported. The company’s stocks were up 6.2 percent at $125.15.
It is not known at this time whether Monsanto will keep their current name, but past indications have been that a change may be in the works, especially considering the negative perception of the longtime corporation that has arisen from several years of intense protests.
Despite hundreds of thousands of petitions against the move, Monsanto and Bayer will now become a certified mega-corporation that environmental and farming groups say could greatly hurt farmers, particularly small businesses while squeezing out healthy competition and harming seed diversity.
“The Justice Department’s paltry divestment approach does little to address the extreme control the merged firm will have over farmers’ data, genetics, biotechnology traits or the associated agrichemical industry,” she said.
Bayer said in a statement that it anticipated closing the purchase of Monsanto sometime in the second quarter, while Monsanto and the Department of Justice declined to comment. For more info, check out the full Wall Street Journal report by clicking here.
What This Means for the Future of Food and Monsanto
Considering the long, sordid history of the Monsanto Company, which has been involved in everything from PCBs to Agent Orange to white phosphorus bombs, the pharmaceutical industry, and yes, even our food supply, it makes sense that they would seek a partner to offset their well-earned negative image.
Bayer has its own dark history to be concerned about as well, including the production of nerve gas, assisting Monsanto with Agent Orange, the selling of bee-killing neonicotinoids and much more.
Now, these two corporations will embark on a new journey, one that could change farming as well know it while also adding even more juice to Monsanto’s latest $125 million plan to flood grocery store shelves with a new type of “longer-lasting” GMOs.
Put it all together and it appears as if we have a new company to March against in May — one that doesn’t appear to be going anywhere anytime soon, and one that could the most formidable of its kind that we have yet seen.
Thanks as always for your support, and we’ll see you soon.