The way the Wapo has it the two companies agreed to spin of $9 billion worth of assets, and:
“Bayer will sell its seed and herbicide businesses to a third party, the German chemical company BASF. It also will sell its emerging digital farming business as well as a variety of intellectual property and R&D projects.”
The DoJ said those spinoffs would be yanno, more fair to farmers and consumers, as the new mega-corporation wouldn’t have quite such a monopoly since six ‘companies’ including Monsanto and Bayer have long dominated global trade in seeds™ and agro-chemicals.
What wasn’t mentioned was, at least according to da Wiki:
“BASF SE ‘We Create Chemistry’ is a German chemical company and the largest chemical producer in the world. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa. Its headquarters is located in Ludwigshafen, Germany. BASF has customers in over 190 countries and supplies products to a wide variety of industries. Despite its size and global presence, BASF has received relatively little public attention since it abandoned manufacturing and selling BASF-branded consumer electronics products in the 1990s.”
“Under the leadership of Carl Bosch, BASF founded IG Farben with Hoechst, Bayer, and three other companies, thus losing its independence. BASF was the nominal survivor, as all shares were exchanged for BASF shares prior to the merger.
World War II: Following the appointment of Adolf Hitler as Chancellor in 1933, IG Farben cooperated with the Nazi regime, profiting from guaranteed volumes and prices, and from the slave labor provided by the government’s Nazi concentration camps. IG Farben also achieved notoriety owing to its production of Zyklon-B, the lethal gas used in Nazi extermination camps.”
The $66 billion deal had already been approved by the EU, Russia, and Brazil. What’s in a name? Well, given the toxic level of Brand Monsanto, Bayer will be…Bayer: think baby aspirin, not GM seeds and glyphosate, nossir.
Here is Bayer Global’s public statement on the deal, the unintentionally satirical highlights:
“Innovation is vital to produce more healthy, safe and affordable food for a growing population in a more sustainable manner. The combination of the two businesses will allow us to deliver more innovation faster and provide solutions tailored to the needs of farmers around the world,” said Liam Condon, Bayer Board Member and President of the Crop Science Division. “Going forward, our teams in the labs and in the field will be able to take a much more holistic approach to innovation as we address the enormous challenges we face in agriculture.”
“Bayer is fully aware of the heightened responsibility that a leadership position in agriculture entails. The company will continue to further strengthen its commitment in the area of sustainability. As a leader, Bayer is fully committed to upholding the highest ethical and responsibility standards, strengthening access to health and nutrition, and further reducing its environmental footprint. “We will apply the same rigor to achieving our sustainability targets as we do to our financial targets,” said Baumann.
Bayer is also committed to further enhancing stakeholder engagement. Baumann said: “We aim to deepen our dialogue with society. We will listen to our critics and work together where we find common ground. Agriculture is too important to allow ideological differences to bring progress to a standstill. We have to talk to each other. We need to listen to each other. It’s the only way to build bridges.”
The rest will be by way of a Storify by Tweets from Colin Todhunter UK, GM Watch, and Sustainable Pulse.
(by way of Bernaysian PR)
I wonder how many of these #FakeFilanthropists own Monsanto, Bayer, and BASF stock besides ‘Green Revolution’ Gates and George Soros?