Bayer Bids $65b for Monsanto, One of the Most Hated Companies in the World

Angelo Young writes for Salon:

There are many companies whose very names have become synonymous with the evils of their industries, if not blatant examples of general corporate turpitude: Halliburton (Iraq war profiteering), Goldman Sachs (“The Vampire Squid“) and McDonald’s (a super-sized contributor to the obesity epidemic) to name but a few.

Naturally, the bioengineering sector has its own Voldemort-like villain: Monsanto Co. If liberal HBO talk-show host Bill Maher, Occupy Monsanto activists and monoculture opponents are to be believed, the St. Louis-based agricultural giant is poisoning the planet with mutant crops and herbicides and threatening the world’s food safety and security.

But if German pharmaceuticals and chemicals maker Bayer AG is to be believed, Monsanto is a moneymaking prize like no other. On Tuesday, Bayer came one step closer to becoming the new bad boy of GM crops, upping its bid to acquire Monsanto to more than $65 billion. In response, Monsanto has agreed to allow Bayer to review its books as part of a due-diligence check, a signal that the companies are closing in on on a friendly (rather than hostile) acquisition.

READ MORE…

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