The gigantic Dow Chemical-DuPont merger is experiencing some serious antitrust pushback in Europe and some Washington insiders feel it could get blocked…A merger of Dow, with a $65 billion market cap, and DuPont, worth $64 billion, would create a new entity called DowDuPont, the world’s largest chemical company.
The merger, which will reorder and concentrate power in the biotech seed industry, has been the subject of intense scrutiny in the US, as well. At least 10 states and the Justice Department are weighing the deal.
Sen. Charles Grassley (R-Iowa), who heads the Judiciary Committee, held a hearing last September on the wave on consolidation in the sector that will affect five of the “Big Six” players in the seed and agrochemical business.
“I’m concerned that further concentration in the industry will reduce choice and raise the price of chemicals and seed for farmers, which ultimately will affect choice and costs for consumers,” the farm state lawmaker said.
“We are continuing to work constructively with the European Commission and all other relevant regulatory authorities to address their questions and to obtain clearance for the merger,” [Dow and DuPont] said in a joint statement.
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