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Iowa Senator Calls For 'Close Review' Of Dow Chemical-Du Pont Merger

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Citing concerns of Iowa farmers, Des Moines Register reported Sen. Chuck Grassley said he would ask the Justice Department to conduct “a careful analysis” of the planned merger between The Dow Chemical Company (NYSE: DOW) and E. I. du Pont de Nemours and Company (NYSE: DD).

According to Grassley, his focus is less on this particular tie-up and more so on massive consolidation in agriculture across the board.

Grassley told the Justice Department’s anti-trust division he worried three major deals in seed and chemical would “decrease competition … adversely impact choice and price of products for farmers and consumers … and raise barriers in the market for smaller companies and potentially harm innovation.”

The Senator hasn't indicated he will hold a hearing on the merger. DuPont spokesperson Dan Turner said there will be an extensive review of the $130 billion deal.

Dow Chemical closed down a half percent at $51.86, with DuPont down just 0.14 percent at $65.76.

Posted-In: Chuck Grassley Des Moines RegisterM&A News Politics Legal Media General

 

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