Abstract
Top executives from farm chemical and seed companies tried to assure skeptical lawmakers last week that a recent wave of mergers will not result in higher prices for farmers or hinder innovation. DuPont’s pending megamerger with Dow Chemical is “procompetitive and good for farmers,” DuPont Executive Vice President for Agriculture James C. Collins said in testimony before the Senate Judiciary Committee. “It creates an American agriculture leader and strong global competitor capable of increasing productivity and profitability for U.S. farmers better than either company could alone,” said Collins, who would head the combined companies’ agriculture business. The deal is awaiting U.S. antitrust officials’ approval. Since December, six major agricultural chemical companies have agreed to merge, creating three global giants with a broad array of products. In addition to DuPont and Dow, Monsanto has agreed to merge with Bayer AG, and China National Chemical (ChemChina) is finalizing its acquisition of Syngenta.
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