Bayer AG (BAYZF.PK)
27 Jul 2016
Wed, Jul 27 2016
* CFO Johannes Dietsch says no need to rush into any Covestro share sale transaction, no need to pile up further cash at the moment
FRANKFURT Bayer , the German drugmaker trying to acquire U.S. seed company Monsanto , surpassed second-quarter earnings expectations and raised its guidance for the year as strong gains in stroke prevention pill Xarelto offset sluggish farming pesticides markets.
* Shares seen up 0.7 pct in premarket trades (Adds details on Xarelto, Eylea, Crop Chemicals unit, background on Monsanto)
FRANKFURT, July 27 Bayer, the German drugmaker trying to acquire U.S. seed company Monsanto, easily surpassed second-quarter earnings expectations and raised its full-year guidance on strong gains in stroke prevention pill Xarelto and anti-blindness drug Eylea.
Plaintiffs' lawyers have asked a federal judicial panel to create a new multidistrict litigation for a growing number of cases alleging Bayer's Essure contraceptive device can cause debilitating injuries.
U.S. seed company Monsanto Co turned down a sweetened $64 billion acquisition offer from Bayer AG , but said it was open to further talks with the German healthcare and chemicals group as well as other parties.
* Monsanto shares rise 0.3 pct; Bayer off 1.2 pct (Adds Bayer statement, updates shares)
By Greg Roumeliotis, Ludwig Burger, Swetha Gopinath and Amrutha Gayathri
BRIEF-Monsanto views Bayer's revised proposal as financially inadequate, insufficient to ensure deal certainty
* Monsanto views Bayer's revised proposal as financially inadequate and insufficient to ensure deal certainty
July 19 U.S. seed company Monsanto Co said a sweetened $125-per-share offer from German chemicals group Bayer AG was "financially inadequate and insufficient to ensure deal certainty."
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