NFU asks FTC to block ChemChina/Syngenta
The National Farmers Union has asked the Federal Trade Commission to oppose ChemChina’s proposed acquisition of Syngenta. NFU President Roger Johnson told Brownfield in Washington, D.C. that China has not played by market economy rules, “They’re a communist country. Much of their economy is directed by the government. ChemChina is not just a Chinese company, it’s a Chinese government-owned-and-controlled company.”
If the acquisition of Syngenta goes through, Johnson says that could make it worse for other companies, “I would not be surprised to see, down the road, after this acquisition, that Syngenta will be getting favorable terms in China to the express exclusion of companies that are not in China.”
NFU has publicly opposed all three of the ag company mergers and acquisitions in the works because of competition and market concerns, saying U.S. farmers will be negatively affected if the “big six” go down to the “big three.”
AUDIO: Meghan Grebner interviews Roger Johnson at NAFB Washington Watch
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