Bayer blames Monsanto for further guidance drop

5 September 2018

For the second quarter in a row, German life sciences company Bayer (BAYN: DE) has lowered its earnings guidance for the year in presenting its financial results.

In doing so, Bayer blamed delays to its $63 billion takeover of USA-based Monsanto (NYSE: MON). The acquisition of the crops and seeds company was agreed between the companies in September 2016 but has only just been completed.

Lawsuits relating to Monsanto’s weedkiller Roundup (glyphosate) have dented Bayer’s share price in the last month and the company’s shares slipped by a further 1.7% on Wednesday, when the latest financials were presented.

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