Monsanto, Bayer CEOs Pitch Mega-Merger to Trump
Bayer CEO Werner Baumann and Monsanto CEO Hugh Grant met with Donald Trump in New York to ask the president-elect to bless the companies' planned $66 billion mega-merger.
"It was a productive meeting about the future of agriculture and the need for innovation," a Bayer spokesman told Reuters.
The German chemical giant's pending takeover of the U.S. seedmaker would form the largest seed and
pesticide company in the world. Consolidation of the two massive companies—not to mention the deals between DuPont and Dow Chemical Co, and ChemChina and Syngenta—will completely reshape the global seed and pesticide markets.
According to FOX Business, Baumann and Grant told Trump that a successful merger would create or keep jobs in the U.S. It is currently unclear how Trump responded to their plans during the meeting.
"The CEOs are hoping that the prospect of additional U.S. jobs coming from the merger will be enough incentive for the incoming Trump administration to approve the acquisition," FOX wrote.
The multibillion-dollar merger still needs regulatory approval in several markets including the U.S. and Europe, and has already been subject to U.S. state and federal antitrust investigations.
While the companies tout the proposed deal as an altruistic plan to feed a growing global population and improve "the lives of growers and people around the world," critics are worried that a successful merger will lead to fewer choices and increased prices for farmers as well as a monopolization of the world food supply.
As it happens, Trump's nominees will be leading antitrust enforcement at the Justice Department and the Federal Trade Commission. Trump has yet to name his nominee to head the U.S. Department of Agriculture (USDA).
Business analysts have said that the president-elect's nominee for attorney general—Sen. Jeff Sessions, a pro-business conservative from Alabama—is good news for any pending mega-deals.
"Sessions' likely nomination and confirmation by the Senate, in which he has served since 1997, is a market positive for merger and acquisition activity," Terry Haines of the investment banking advisory firm Evercore ISI, wrote.
"Sessions as attorney general would shift immediately from the current mostly 'red light' Obama antitrust/competition policy and move towards one that would be friendlier to M&A activity," Haines added.
But as The Wall Street Journal reports, several members of Trump's agricultural advisory committee have spoken out against mega-mergers and have urged the president-elect to block them.
Iowa agribusiness mogul Bruce Rastetter, a member of that committee who has been shortlisted for the empty USDA spot, told The Journal he plans to raise his concerns about the mergers directly with Trump in the near future.
Marcia Ishii-Eiteman, senior scientist for Pesticide Action Network, has grave concerns over the merger.
"Just six corporations already dominate worldwide seed and pesticide markets," she said. "Additional consolidation will increase prices and further limit choices for farmers, while allowing Monsanto and friends to continue pushing a model of agriculture that has given us superweeds, superbugs and health-harming pesticides. Instead, we need to invest in agroecological, resilient and productive farming."
Neil deGrasse Tyson Fans Deserve More Than Twisted Tale on GMOs
By Stacy Malkan
Neil deGrasse Tyson has inspired millions of people to care about science and imagine themselves as participants in the scientific process. What a hopeful sign it is to see young girls wearing t-shirts emblazoned with the words, "Forget princess, I want to be an astrophysicist."
Massive Antarctic Ice Shelf Days From Breaking Off
By Andy Rowell
Any day now we will truly witness climate change in action. Within days at worst, maybe weeks at best, scientists predict that a huge section of the Larsen C ice shelf in Antarctica will break off into the ocean, in what is called a major "carving" event.
Whatever Trump Is Selling, His People Are Buying Including a Solar Border Wall
President Trump visited Cedar Rapids, Iowa on June 21 to speak to a large crowd in the U.S. Cellular Center at a political rally organized by his campaign.
As Trevor Noah noted during The Daily Show episode last night (starts at 2:25), the real reason Trump has these rallies is to "get back in front of his loyal crowds and feed of their energy." Noah believes that "Trump supporters are so on board with their dude he can say anything and they'll come along for the ride."
World's Biggest Coal Company Closes 37 Mines as Solar Prices Plummet
The rapid growth in renewable energy continues to put a dent in the demand for coal.
Coal India, the world's biggest coal mining company and producer of 82 percent of the country's coal, announced the closure of 37 mines that are financially "unviable."
The Rise and Fall of Coal in America
By Katie O'Reilly
Two years ago—long before coal became one of the most dominant and controversial symbols of the 2016 presidential election—Bloomberg Philanthropies approached production company RadicalMedia with the idea of creating a documentary exploring the U.S. coal mining industry. Last spring, they brought on Emmy-nominated director Michael Bonfiglio, tasked with forging a compelling story out of the multitudes of facts, statistics and narratives underlying the declining industry.
118 U.S. Mayors Endorse 100% Renewable Energy Goals
The Sierra Club released a new analysis Friday that found that transitioning all 1,400+ U.S. Conference of Mayors member-cities to 100 percent clean and renewable electricity will significantly reduce electric sector carbon pollution nationwide and help the U.S. towards meeting the goals of the Paris climate agreement.
Yellowstone Grizzlies Lose Federal Protection
Thanks to Newsy for their coverage on Thursday's news that the U.S. Fish and Wildlife Service removed grizzly bears in the Greater Yellowstone region from the Endangered Species List.
Watch above as Newsy explains that the decision comes despite serious concerns from the environmental and scientific community, and Tribal Nations about a declining, isolated grizzly bear population with diminishing food resources and record-high mortalities.
Seismic Blasting Devastates Ocean's Most Vital Organisms
By Francine Kershaw
Seismic airguns exploding in the ocean in search for oil and gas have devastating impacts on zooplankton, which are critical food sources for marine mammals, according to a new study in Nature. The blasting decimates one of the ocean's most vital groups of organisms over huge areas and may disrupt entire ecosystems.
And this devastating news comes on the heels of the National Marine Fisheries Service's proposal to authorize more than 90,000 miles of active seismic blasting. Based on the results of this study, the affected area would be approximately 135,000 square miles.
So, Is Coconut Oil Healthy or Not?
By Jill Richardson
Is coconut oil:
- good for you
- bad for you
- neither good nor bad
- scientists don't know
The subject of this question is the source of a disagreement. Initially, the question was thought to be settled decades ago, when scientist Ancel Keys declared all saturated fats unhealthy. Coconut oil, which is solid at room temperature, is a saturated fat.
