Executives from Monsanto and Bayer met with President-elect Donald Trump this week to explain the benefits of the companies’ proposed $66 billion merger.
Trump has been skeptical of other mergers, but so far hasn’t publically expressed an opinion on the Monsanto-Bayer tie-up, or any of the other big deals in the sector, like the Dow-DuPont merger.
The meeting comes as the industry waits anxiously to find out whom Trump is going to nominate to serve as secretary of the U.S. Department of Agriculture — the last department head he needs to name for his cabinet.
Trump’s choice for USDA chief could impact the federal government’s approach to proposed mega-mergers in the sector, as well as trade, environmental regulations and agriculture rules. According to Reuters, Trump’s team announced earlier this week that former Georgia Governor Sonny Perdue is the president-elect’s leading candidate for the position.
Some in the agriculture industry have expressed concerns about the impact of big mergers in the sector. One advisor for Trump, who was reportedly also being vetted by Trump’s team for the secretary of agriculture slot, recently spoke out against the proposed megadeals, saying that they could “limit competition, stifle innovative research and stunt job growth.” He also said that the deals are designed to hurt farmers by increasing prices.
A Monsanto spokesperson said in a statement that the executives “had a productive meeting with President-Elect Trump and his team to share their views on the future of the agriculture industry and its need for innovation.”
