ALL eyes are watching to see what is happening with the Bayer-Monsanto buy-out offer.
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A successful buy-out by Bayer could have ramifications for Australian farmers and the Australian Competition and Consumer Commission (ACCC) will be watching the deal closely.
On 23 May, Bayer made an unsolicited cash offer of US$62 billion ($87b) or US$122 ($170) a share to buy out Monsanto.
The offer was rejected by Monsanto the following day, but the company has indicated it remains open to discussions.
ACCC said in a statement it anticipates the deal will need further review.
"The ACCC is aware of the proposed acquisition by Bayer of Monsanto and anticipates that a public review will be necessary in order for the ACCC to form a view, if the transaction proceeds," it said.
Local growers were keeping an eye on the offer and remained wary of two of the largest global seed and crop protection companies merging.
Bayer is well known for its patented crop protection products, including Sakura, Jaguar and Jockey, while Monsanto's Roundup Ready seed technology has revolutionised farming in Australia and worldwide.
Pastoralists and Graziers Association president Tony Seabrook said he had some concerns regarding the merger.
"The potential aggregation of power by one company is concerning," he said.
Mr Seabrook said he would be meeting with Monsanto representatives this week to learn more about what ramifications the deal may have for Australian farmers.
