Supreme Court Rules Against EPA, Monsanto Looking at Takeovers
- On Monday the Supreme Court said the Environmental Protection Agency could not rewrite specific standards for power plant and factory emissions of greenhouse gases written into the law according to the Washington Post.
But the justices agreed there is another way for EPA to carry out its proposed program. Justice Scalia said EPA sought to regulate sources that it said were responsible for 86 percent of all the greenhouse gases emitted from stationary sources nationwide, and under the Supreme Court’s holdings, the agency will be able to regulate sources responsible for 83 percent of those emissions.
- According to Bloomberg News, Monsanto Company recently explored a takeover of Syngenta, in a transaction that would have allowed the U.S. firm to move its tax location to Switzerland.
Both companies held preliminary talks in the past few months with advisers about a deal but Syngenta management decided against the deal.