For Immediate Release
Jackie Filson, email@example.com,
DOJ Using Pandemic to Give Corporate Agriculture A Fast-Track to Lethal Mega-Mergers
Instead of prioritizing predatory agribusiness, agencies must block consolidation to safeguard struggling communities and small farmers
WASHINGTON - Today, the Federal Trade Commission (FTC) and U.S. Department of Justice (DOJ) resumed a policy to cut certain merger review processes in response to COVID-19.
Normally companies that are looking to merge have to notify FTC and DOJ ahead of time about mergers that reach certain thresholds. The agencies have 30 days to review and authorize requests or ask for additional information that requires a second waiting period.
FTC and DOJ typically have the ability to end the initial waiting period early without a second request, but in light of coronavirus, early termination was halted. Today’s announcement removes that safeguard and allows expedited mega-mergers to resume.
In response, Amanda Starbuck, Senior Researcher and Food Policy Analyst of Food & Water Action, issued the following statement:
SCROLL TO CONTINUE WITH CONTENT
Never Miss a Beat.
Get our best delivered to your inbox.
“In a time when Americans are more vulnerable than ever, it is outrageous that our protective agencies are backpedaling on… protections. Early termination of merger requests was halted for a reason. Megamergers threaten the livelihood of small farmers, rural communities, and the health of consumers and the environment. Right now all four of those are debilitated by the coronavirus pandemic.
“Our government should be blocking corporate agricultural consolidation entirely, not fast-tracking megamerger requests. Lax antitrust enforcement has already hindered family farmers and ranchers by reducing competition in supply and demand industries.
“Before coronavirus, we already saw declining farm incomes, stagnant wages and increased layoffs for workers, higher grocery prices and fewer choices for consumers, the erosion of rural economic vitality and a less resilient food system overall. Now we’re seeing all of that culminate as our food systems implode in the face of a pandemic.
“To prioritize public health and safety during this crisis, our elected officials must immediately halt corporate agricultural mergers for the duration of the crisis, and support a longer-term merger moratorium with legislation like the Food and Agribusiness Merger Moratorium and Antitrust Review Act of 2019, introduced by Sen. Booker and Rep. Pocan.”
Our pandemic coverage is free to all. As is all of our reporting.
No paywalls. No advertising. No corporate sponsors. Since the coronavirus pandemic broke out, traffic to the Common Dreams website has gone through the roof— at times overwhelming and crashing our servers. Common Dreams is a news outlet for everyone and that’s why we have never made our readers pay for the news and never will. But if you can, please support our essential reporting today. Without Your Support We Won't Exist.
Please select a donation method:
Food & Water Watch is a nonprofit consumer organization that works to ensure clean water and safe food. We challenge the corporate control and abuse of our food and water resources by empowering people to take action and by transforming the public consciousness about what we eat and drink.