Today is the last day when we hear the name Monsanto. Tomorrow, 7th June is historic for the corporate world, especially the pesticide industry as German pharmaceutical giant Bayer will officially buy US agriculture giant Monsanto for $63 billion.
Bayer has announced that the moment it signs on the dotted line, it will retire the 117-year-old Monsanto name. Bayer will remain the company name. Monsanto will no longer be a company name. The acquired products will retain their brand names and become part of the Bayer portfolio.
This is probably because Monsanto’s name is associated with everything that is genetically modified and there is a huge controversy world over with anti-GM protestors directing all their ire on Monsanto. Thus Bayer probably feels that it wipes off the name Monsanto from the market itself, the bad image associated will automatically disappear. But then those who know, know that Monsanto is now Bayer so wonder how that will placate them? Calling a wolf a sheep does not really make it a sheep, its traits of the wolf will remain.
On another note, post the merger of Monsanto and Bayer, Syngenta into ChemChina and Dow into Dupont, the agriculture industry is controlled by three countries – USA, Germany and China.