New York/Frankfurt | Reuters — Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11 per cent higher. “Bayer has not proposed paying $8 billion […] Read more
Bayer mediator dismisses report of Roundup settlement
Investors call for reprieve for Bayer bosses after AGM rebuke
Frankfurt | Reuters — Three of Bayer’s largest German investors said the drugmaker’s embattled management needed to stay at the helm to avoid further upheaval, despite their unease over a share price slump in the wake of the US$63 billion Monsanto takeover. The backing for CEO Werner Baumann comes after an unprecedented rebuke at the […] Read more
Bayer shareholders vent ire over Monsanto-linked stock rout
Bonn | Reuters — Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s US$63 billion takeover of seed and chemical firm Monsanto. Several large investors said they will not support aspirin invesotr Bayer’s management in a key vote scheduled for the end of its […] Read more
Bayer reaps profit lift from Monsanto
Leverkusen, Germany | Reuters –– Bayer’s US$63 billion purchase of seed and chemical firm Monsanto made its mark on the German company’s fourth quarter earnings on Wednesday, lifting profit and boding well for the peak season of its enlarged agriculture business. However, mounting litigation risks related to Monsanto still cast a pall over an adjusted […] Read more
Bayer to shed animal health division, others after Monsanto deal
Frankfurt | Reuters — Bayer, the German drugmaker that bought U.S. seed company Monsanto, announced on Thursday the sale of its animal health business and a number of others, around 12,000 job cuts and 3.3 billion euros (C$4.98 billion) in impairments. CEO Werner Baumann is under pressure to boost Bayer’s share price after a drop […] Read more
Ag trade flows may change amid trade dispute, Bayer says
Monheim | Reuters — Bayer said on Tuesday it would be difficult to predict 2019 earnings at its agriculture business, which now includes Monsanto, because a U.S.-Chinese trade dispute could reroute global trade flows in farming commodities. The head of Bayer’s crop science division told Reuters his company could even benefit if U.S. farmers switched […] Read more
With drugs pipeline in focus, Bayer seen considering cuts
Frankfurt | Reuters — Bayer is considering job cuts and outsourcing as part of a wide-ranging review of drug research and development that will last until at least November, a person familiar with the company told Reuters. The prospect of “very tangible changes” contributed to a decision by key board members to extend the contract […] Read more
Roundup cancer verdict sends Bayer shares sliding
Frankfurt | Reuters — Bayer shares plunged as much as 14 per cent on Monday, losing about US$14 billion in value, after newly acquired Monsanto was ordered to pay US$289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer. After the verdict […] Read more
With deal to close this week, Bayer to retire Monsanto name
Frankfurt | Reuters — Germany’s Bayer will wrap up the US$63 billion takeover of Monsanto on Thursday and also retire the U.S. seed and chemical firm’s 117-year-old name. The German drugmaker had received all required approvals from regulatory authorities, it said in a statement on Monday. “Bayer will remain the company name. Monsanto will no […] Read more
Bayer wins U.S. nod for Monsanto deal to create ag giant
Frankfurt/Washington | Reuters — Bayer won U.S. approval for its planned takeover of Monsanto after agreeing to sell about US$9 billion in assets, clearing a major hurdle for the US$62.5 billion deal that will create by far the largest seeds and pesticides maker. Makan Delrahim, who heads the U.S. Justice Department’s (DoJ) antitrust division, said […] Read more
Cyber-Savvy Farmer
