Frankfurt | Reuters — The departure of Bayer chairman Werner Wenning will turn up the heat on CEO Werner Baumann to resolve the healthcare to agriculture group’s legal problems, two of the firm’s biggest German shareholders said on Wednesday. Bayer’s shares have plunged about a quarter in value since August 2018, when the company lost […] Read more
Pressure on for Bayer CEO to fix legal problems as chairman quits
Bayer considers new tactic in Roundup settlement talks
Reuters — As Bayer tries to settle U.S. lawsuits claiming that its Roundup herbicide causes cancer, the company is considering a proposal that would bar plaintiffs’ lawyers involved in the litigation from advertising for new clients, according to a person familiar with the matter. Bayer has said it is engaged in mediation to resolve 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
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
Bayer cuts Monsanto synergy target on divestments
Bonn | Reuters — Bayer said positive synergy effects from the planned takeover of U.S. seeds and chemical firm Monsanto would be about US$300 million below its previous target because it will sell more businesses than initially expected to get antitrust approval. Bayer CEO Werner Baumann again threw his weight behind the deal, despite higher […] Read more
BASF ready to snatch seed bargains as rivals sell assets
Ludwigshafen, Germany | Reuters — BASF will consider buying seed assets that rivals are putting on the block to win antitrust approval for tie-ups, saying bargain prices could persuade BASF to overcome its traditional reluctance to expand into the seeds industry. Sources familiar with BASF’s thinking have said that competition regulators looking at potential buyers […] Read more
Bayer sizing up deals to strengthen seeds operation
Leverkusen, Germany | Reuters — Bayer’s Crop Science business is casting its eye over potential targets to enhance its seeds operation, the division’s head said on Thursday, as competitive threats increase with big mergers among its rivals. The Bayer CropScience operation comprises the world’s second-largest pesticides supplier but remains a much smaller player in seeds, […] Read more
K+S rejects PotashCorp offer, promises on German mines
Frankfurt | Reuters — German salt and fertilizer company K+S AG once again rejected PotashCorp’s takeover offer Friday, saying the Canadian company’s assurances about maintaining jobs and mine sites in Germany were unreliable. Saskatoon-based PotashCorp sent an unsolicited letter to K+S’s management and supervisory boards, K+S said in a statement. The letter included a proposal […] Read more
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