According to a press report at Bayer, the hedge fund Elliott recently fueled the debate about splitting off the business with over -the -counter medication.
Elliott Management has had talks with participation companies in recent months to explore their interest in the consumer health division, the “Financial Times” reported on Wednesday evening, citing the matter. There is interest, but a sale is currently unlikely, it said.
This has not changed significantly in the past few months. Bayer boss Bill Anderson had already explained on a capital market day a year ago that he wanted to get the difficult situation of Bayer under control despite a high debt mountain without selling a division. The Bayer shares did not react to the report on Thursday. They noted something under their Xetra closing from the previous day.
Bayer continues to struggle with the consequences of the over $ 60 billion of the US Agriculture Group Monsanto in 2018. The Leverkuseners also brought the US glyphosate and PCB legal disputes into the house. The Causa Glyphosate alone has devoured many billions. Bayer hopes to get the topic out of the world through a fundamental judgment of the highest US court. However, it is unclear whether the US Supreme Court will take care of it at all.
Anderson had already stated a year ago that selling the Consumer Health division was an attractive option to repay debt. A separation would be associated with high costs and tax effects. In addition, the division generate constant inflows of money.
Instead of a sale or even a time -consuming splitting of the group, Anderson Bayer has been rebuilding internally for a while. The savings program is to bring an additional 800 million euros this year, after the expenses were placed by 500 million in the past year, Bayer had announced in early March when the business figures were published. In the model introduced by Anderson, employees receive more personal responsibility and freedom of action in research, production and sales, fewer managers are necessary.
Bayer share temporarily loses 1.67 percent to EUR 22.41 on Xetra.
London (dpa-Afx)
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