After months of speculation, what may be the biggest deal in ag history is moving forward. In an announcement made Sept. 14, Bayer announced it is set to acquire Monsanto for $66 billion. And our industry is suddenly much closer to seeing a global giant in ag technology that will touch much of global food production through their seeds and crop protection products.
The immediate question everyone is asking: What does this mean?
"We likely won't know for many months what the impact is to the industry as a whole and to us and our partnership, and how that extends to our owners and customers," says Mike Vande Logt, COO of Winfield United.
There are many steps that it will have to go through before the deal closes in late 2017.
"We know this headline only puts an exclamation point on what we already know to be a dynamic, compressed and competitive environment unlike we've ever seen," Vande Logt says. "We've taken strategic action to consolidate and achieve greater size and scale. We've brought together products, services and tools focused on equipping our owners to support farmers in making the most critical decisions for their crops and their livelihoods."