October 30, 2012 / 10:05 AM / 7 years ago

Bayer CEO says would shun very large takeover deals

FRANKFURT, Oct 30 (Reuters) - The head of Bayer said the drugmaker’s recent string of smaller takeover deals was a sign of Bayer’s strategy of trying to steer clear of large deals.

“In our life science divisions we are mainly interested in smaller to medium-sized acquisitions. There is no upper limit but our aim is bolt-on acquisitions and not necessarily a very large acquisition and that’s what I believe can be seen in our track record,” Chief Executive Marijn Dekkers told journalists in a conference call on Tuesday.

Bayer added that the agreed deal to buy U.S. vitamin maker Schiff for an enterprise value of $1.2 billion includes assumed debt of $120-$130 million.

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