Bayer Looking for another major acquisition?

The chief executive-in-waiting of Germany's Bayer, Marijn Dekkers, has said the company is still looking for acquisitions and could envision another large deal in the same league as its $23 billion purchase of Schering in 2006.

Dekkers, who takes over the CEO role from Werner Wenning on October 1, made the comments at an industry dinner on Monday, according to a report in Germany business daily Handelsblatt.

He said the company will try to bolster its existing business units rather than diversify into new areas, and will focus instead on expanding its presence in emerging markets. Bayer has already shown that growth by acquisition can be an attractive strategy under Wenning's leadership, added Dekkers.