Trump Team Announces Bayer Merger Promises

Cindy Zimmerman Agribusiness, Bayer, Monsanto

President-elect Trump’s transition team updated reporters yesterday on the outcome of meetings last week regarding Bayer’s acquisition of Monsanto.

Trump press secretary Sean Spicer says the president-elect received commitments from Bayer CEO Werner Baumann that they would keep Monsanto in St. Louis and “retain 100 percent of Monsanto’s 9,000-plus U.S. workforce and create at least 3,000 new U.S. high-tech jobs.” Additionally, Spicer said Bayer committed to $8 billion in new U.S. research and development. “The reason for this commitment and expansion is because of the president-elect’s focus on creating better business climate here in the United States, which is already increased consumer and small business confidence since the election,” said Spicer.

A joint statement from Monsanto and Bayer said Baumann and Monsanto CEO Hugh Grant had “a very productive meeting” last week with Trump, and that they would be investing $16 billion in R&D over the next six years, with “at least half” of that being in the United States – “an investment in innovation and people that will create several thousand new high-tech, well-paying jobs after integration is complete.”

Agribusiness, Bayer, Monsanto