Best Bayer

10 December 2018 By Liam Proud Follow @liamwardproud

Paul Singer’s fund has held a stake in the $66 bln German conglomerate for over a year. Litigation fears have pushed the stock down 40 pct in that time. Convincing Bayer to sell its drug and consumer health units could create value, but means getting Singapore’s Temasek onside.

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Activist hedge fund Elliott Management has taken a position in Germany’s Bayer, Reuters reported exclusively on Dec. 7 citing three people familiar with the matter.

The fund controlled by Paul Singer has held shares in the pharmaceuticals-to-crop science conglomerate for more than a year, Reuters reported, but has failed to get a meeting with Chief Executive Werner Baumann or his colleagues.

Bayer completed its $63 billion acquisition of seed group Monsanto in June and faces 9,000 lawsuits over a suspected cancer link to the U.S. company's Roundup weedkiller.

Bayer shares were trading at 62.86 euros at 0900 GMT on Dec. 10. That was almost 1 percent above their closing price on Dec. 6, the day before Reuters reported Elliott’s stake. The stock has fallen by nearly 40 percent over the past year.

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