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Germany's Bayer closes $63 billion Monsanto takeover, plans to drop US company's name
Key Excerpts from Article on Website of CNBC News
Posted: June 19th, 2018
https://www.cnbc.com/2018/06/07/germanys-bayer-closes-monsan...
German conglomerate Bayer on Thursday closed its $63 billion merger with Monsanto after getting the required nod from U.S. and EU regulators. The closing sets the stage for the ... brand name "Monsanto" to be dropped by Bayer. Monsanto's agricultural biotechnology research and development operations that are going to Bayer are the largest in the world. "The entire business is essentially going over to Bayer intact," said ... analyst Seth Goldstein. "Taking away the Monsanto name is more of a branding. It should allow for easier PR for Bayer." The annual Harris Poll of corporate reputation ratings among America's "100 most visible companies" has regularly shown Monsanto rank toward the lower end of the list. Monsanto ranked 97 on the list of 100 companies in 2017 and survey results this year put it at 95. Monsanto has spent upwards of $100 million in some years on advertising costs. Some of the corporate efforts have been in direct response to social media attacks ... against genetically modified organisms. Monsanto also has faced protests over the American company's Roundup herbicide product containing glyphosate. The International Agency for Research on Cancer classified glyphosate as "probably carcinogenic" back in 2015. "It's not a surprise Bayer is dropping the Monsanto name since the brand has so many issues and there was international rejection of GMOs," said Andrew Kimbrell, executive director of the Center for Food Safety.
Note: Monsanto has become the target of a negative publicity campaign for very good reasons because of it's huge support of GMOs and RoundUp. Now, Bayer is hoping to erase this negative image, yet they are far from a responsible company. See this post documenting how Bayer collaborated with the Nazis to kill Jews and much more. For more along these lines, see concise summaries of deeply revealing news articles on corruption in the corporate world and in the food system.
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