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Monsanto’s takeover by Bayer could create a GMO juggernaut too powerful for Europe to resist, while conveniently “disappearing” a tarnished brand, critics say. Concerns abound over concentration in the seed market.
Monsanto has rejected a second takeover bid from Bayer, calling it “insufficient”, despite the additional $3 billion (2.7 billion euros) the German drugs and chemicals giant added to its previous offer.
The German pharmaceutical giant has sweetened its buyout deal for Monsanto, which turned down an earlier offer. Bayer has added three dollars more per share, and it has its cash ready if the massive deal is accepted.
Monsanto holds patents for 674 seed varieties, often suing small local farmers whose crops are cross-pollinated
Greenpeace voiced their concern over inconsistencies between the findings in a report published by The International Service for the Acquisition of Agri-Biotech Applications (ISAAA) and official statement’s made by the Ministry of Agriculture over their use of GM crops