On the same day that Bayer AG announces that Monsanto has accepted its acquisition bid, Senate Judiciary Committee Chairman Charles Grassley calls in agribusiness executives to testify on mergers in the sector, according to an article from Bloomberg BNA. Bayer AG’s announcement follows similar proposed deals between China National Chemical Corp. and Syngenta AG, and between DuPont and Dow.
A hearing on consolidation in the seed and agro-chemical industries is reportedly scheduled for September 20. Executives expected to testify include Erik Fyrwald, CEO of Syngenta; Jim Blome, president and CEO of Bayer CropScience North America; and Dr. Robert Fraley, executive vice president and chief technology officer of Monsanto, along with executives from DuPont and Dow, according to the article.
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