Bayer AG promises Trump to make U.S. investment
January 17, 2017
German-based Bayer AG has committed to President-elect Donald Trump that if it acquires Monsanto, it will keep all of Monsanto's jobs in the United States, create 3,000 more U.S. jobs, and invest $8 billion in American research and development, Trump's transition team said Tuesday, according to reports in The Hill and other publications.
Bayer is planning to spend $66 million to acquire the U.S. seed giant, but the sale has not been approved by regulators.
Although Sean Spicer, Trump's press secretary, touted the promises as an accomplishment, Trump's strategy of putting pressure on individual companies and CEOs is not without controversy, Politico noted today.
Senate Judiciary Committee Chairman Charles Grassley, R-Iowa, has said he is concerned that the Bayer-Monsanto deal will curtail choice and raise prices for farmers.
Bruce Ratstetter, an Iowa businessman and Trump supporter, has come out in opposition to the merger.
–The Hagstrom Report