Bayer AG (BAYRY.PK)
27 Feb 2017
FRANKFURT Drugmaker Bayer has sold 1.46 billion euros ($1.5 billion) of shares in its chemicals subsidiary Covestro , cutting its stake to 53.3 percent as it raises cash for its takeover of seeds maker Monsanto .
FRANKFURT Bayer's sale of an 11 percent stake in chemicals subsidiary Covestro on the open market would not prevent the parent company from considering any takeover offers from industry players, Covestro's finance chief told Reuters.
FRANKFURT, March 1 Bayer's sale of an 11 percent stake in chemicals subsidiary Covestro on the open market would not prevent the parent company from considering any takeover offers from industry players, Covestro's finance chief told Reuters.
* Says has reduced its holding in Covestro from 64.2 percent to 53.3 percent
FRANKFURT, Feb 28 Bayer has placed shares in separately listed chemicals subsidiary Covestro at 66.50 euros apiece, a source close to the matter said.
FRANKFURT, Feb 28 Bayer said on Tuesday it was reducing its stake in separately listed chemicals subsidiary Covestro in an accelerated bookbuilding process as it seeks to secure funding for the $66 billion takeover of seeds maker Monsanto.
The U.S. Supreme Court on Monday refused to dismiss an unfair competition lawsuit by two units of German pharmaceutical giant Bayer against a Virginia company that sells the painkiller Flanax in the U.S.
* Ceo says assume that we will receive cfius approval for monsanto takeover Further company coverage: (Frankfurt newsroom)
LEVERKUSEN, Germany German drugs and pesticides maker Bayer forecast a year without earnings growth for its agricultural products business on Wednesday, as it seeks to complete its $66 billion deal to take over U.S. seeds giant Monsanto .
* Aims for mid 1-digit pct gain in 2017 adj group EBITDA (Adds quote from divisional head, shares, update on EU antitrust scrutiny)