Part of a market is informing the public about what is going on. Here we see two big time crony companies coming together to make genetically modified crony babies. (Not human babies. At least not yet. Muhahahaha!) Monsanto, after perhaps Goldman Sachs is the cronyist non-defense company out there. (There are a bunch that challenge for this position though.)
Saying this, the gist of the attached article is that farmers (who are big time crony players themselves, just look at what gets through the Farm Bill every 2 years) are going to see higher prices. On this point we have little sympathy. This happens from time to time. Also farming is a giant ball of crony capitalism where the market is so warped it’s very difficult to see who is right and who is wrong.
We just know that taxpayer funded subsidies, cushy government defined deals, and predatory regulation are wrong and everyone’s to blame here.
(From The Business Insider)
A blockbuster deal between Bayer and Monsanto is moving ahead.
Under a proposed settlement filed on Tuesday, Bayer agreed to sell its seed and herbicide businesses to German chemical company BASF — a move the US Department of Justice required for the deal’s approval.
Bayer and Monsanto first announced the $60 billion deal in September 2016, saying the move would boost agriculture research and innovation.
“By the time 2050 rolls around, the world will have 10 billion people, and the demand for food will double,” Robb Fraley, Monsanto’s outgoing chief technology officer, told Business Insider last year. “The whole point here is that the business combination between Monsanto and Bayer will allow the companies to invest in and create more innovation, and it’s going to take a huge amount of innovation in order to double the world’s food supply.”