Activist Bluebell builds stake in Bayer, pushes for company breakup -Bloomberg

Logo of Bayer AG at a plant of the German pharmaceutical and chemical maker in Wuppertal
A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo

Jan 10 (Reuters) - Activist investor Bluebell Capital Partners has built a stake in Bayer AG (BAYGn.DE) and is pushing for a breakup of the German pharmaceutical and agriculture company, Bloomberg reported on Tuesday, citing sources.

UK-based Bluebell is also seeking an overhaul of Bayer's corporate governance, the report added.

A Bayer spokesperson, who declined to comment on the report, said: "Generally speaking we are always open for a constructive dialogue with our stakeholders."

Bluebell didn't immediately respond to a request seeking comment.

The report follows news on Monday that the activist investment fund Inclusive Capital Partners, run by hedge fund veteran Jeffrey Ubben, had acquired a 0.83% stake in Bayer, which continues to suffer from a weak market value.

Bloomberg said the size of the Bluebell holding was undisclosed.

Reporting by Shivani Tanna in Bengaluru; Additional reporting by Tom Sims in Frankfurt; Editing by Jane Merriman and Cynthia Osterman

Our Standards: The Thomson Reuters Trust Principles.

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