Bayer plans to focus entirely on Life Science businesses
The board of management of Germany’s Bayer AG (BAYN: D) plans to focus the Bayer Group entirely on the Life Science businesses - HealthCare and CropScience - and float MaterialScience on the stock market as a separate company.
In this way Bayer would position itself as a world-leading company in the field of human, animal and plant health. The plans remain subject to the approval of the Supervisory Board. Bayer’s shares rose almost 5% in Thursday morning trading to 111.45 euros.
"Our intention is to create two top global corporations: Bayer as a world-class innovation company in the Life Science businesses, and MaterialScience as a leading player in polymers," Bayer chief executive Marijn Dekkers announced. He said both companies have excellent prospects for success in their respective industries. Employment levels are expected to remain stable over the next few years, both globally and in Germany.
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