Hearing Scheduled for ChemChina buyout of Syngenta

The U.S. Committee on Foreign Investment has approved ChemChina’s $43 billion buyout of Syngenta.

There will be a hearing in late September between Iowa Senator Chuck Grassley and the Chairman of the Senate Judiciary Committee due to concerns that the mergers are threatening the agricultural input competition.

Grassley cites two reasons for proposing the hearing: “Partly to make sure that justice and federal trade commission does a proper job. Partly if there’s specific concerns about anti-competitive things like we did in the beer merger last December. Try to get some commitments out of the companies. What they’re going to do.“A similar deal is in the works between Dow and DuPont, which means if they are both approved these four companies would control a significant share of the market for seed and chemical products.

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