Competition and innovation safeguarded in the Canadian agricultural sector
“Agriculture has always been a critical part of the Canadian economy, and innovation remains as important in this industry as in emerging sectors. This agreement with Bayer will protect competition and innovation in Canada’s agricultural sector, and is the result of a collaborative approach with the parties and our international counterparts.”
Commissioner of Competition
On September 14, 2016, Bayer and Monsanto signed a definitive agreement under which Bayer proposed to acquire Monsanto for US$128 per share. The offer price valued Monsanto at US$66 billion.
Bayer is a global pharmaceutical, consumer health, animal health and crop protection science company headquartered in Leverkusen, Germany.
Monsanto is a global provider of agricultural products headquartered in St. Louis, Missouri.
Bayer’s LibertyLink herbicide tolerance trait can be found in approximately 55% of canola seeds sold in Canada and Monsanto’s Roundup Ready trait can be found in approximately 40% of these seeds.
According to the Canola Council of Canada, the canola industry contributes $26.7 billion per year to the Canadian economy.
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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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