DÜSSELDORF (dpa-AFX) – The fund company Union Investment sees the question of spin-offs differentiated after the announced change of head at the pharmaceutical and agrochemical group Bayer. “A spin-off of the Consumer Health division would be a possible way to increase the company’s value,” said fund manager Markus Manns of the “Rheinische Post” (Saturday edition). Consumer Health manufactures over-the-counter medicines and is Bayer’s smallest division.
On the other hand, Manns does not consider a spin-off of the much larger agricultural division Crop Science to be feasible: “Due to the glyphosate uncertainty, a spin-off from Crop Science is not an option at the moment. In addition, Bayer Pharma should then be taken over quite quickly, and so will we would rather speak of a breakup that nobody wants and that would damage Germany as a business location,” said the fund manager. According to data from the Bloomberg news agency, Union Investment currently holds just under one percent in Bayer.
The IGBCE union, on the other hand, warns Bayer’s investors against breaking up the company: “From the employees’ point of view, Bayer with its three pillars is perfectly positioned for the challenges of the future,” said Francesco Grioli, member of the union’s board and Bayer’s supervisory board, the newspaper . “The transformation of the industry can only be managed with a corporate policy based on risk diversification and sustainability – and not on hedge fund activism.”/he/la
Leverage must be between 2 and 20
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