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...Caught between bondholders rejecting the idea of a break-up and shareholders refusing the idea of a capital raise, his main lever to reduce Bayer’s €34.5bn debt is a far-reaching internal reorganisation....
...German drugs and crop science conglomerate Bayer has postponed a decision on whether to break itself up, as it launches a €2bn cost-cutting plan and promises to bring down debt....
...It is often easier to rule things out than demonstrate a clear path forward. German weedkiller-to-aspirin conglomerate Bayer is a perfect example....
...Last week, Bayer also cut its dividend to the legal minimum required under German law for three years, meaning a payout of just €0.11 for 2023 versus €2.40 a share in 2022....
...Bayer paid out a dividend of €2.40 for 2022....
...Francesco Grioli, a senior official at Germany’s powerful chemicals worker union IGBCE and Bayer’s supervisory board, called Bayer’s situation “precarious” blaming “a series of management blunders”....
...Anderson praised activist investor Jeff Ubben, who built a 0.8 per cent stake in Bayer a year ago and last month was nominated to join Bayer’s supervisory board, as a “vigorous advocate for shareholders”...
...Ubben disclosed a 0.83 per cent stake in Bayer a year ago, becoming a leading force behind the ousting of then chief executive Werner Baumann, who was replaced by Bill Anderson, a former Roche manager....
...In 2020, Bayer reached a $10.9bn settlement over claims and set aside another $4.5bn a year later....
...“Little did I know that it would provide a lifeline for me . . . It saved my life. It’s mad that it happened that way.” emma.jacobs@ft.com...
...Bayer paid a dividend of €2.40 for 2022. Analysts had expected Bayer to pay a dividend of €1.92 per share for 2023, a far more modest cut....
...A jury in Philadelphia ruled against Bayer on Friday in a case involving its Roundup weedkiller, according to a lawyer involved in the lawsuit....
...The perk for Castro is to “get my fitness in while also listening to a podcast or mulling over a research problem”....
...Jacob Kenedy is chef-patron of Bocca di Lupo Follow @FTMag to find out about our latest stories first and subscribe to our podcast Life and Art wherever you listen...
...Outside Jacob Zuma’s sprawling Nkandla homestead, nestled in the hills of rural KwaZulu-Natal, a team of volunteers keep lookout in front of a khaki-green military tent....
...Bayer resists breaking itself up for now There is M&A gone wrong. And then there is the situation at Germany’s Bayer, the aspirin-to-glyphosate conglomerate, which is in a league of its own....
...In a statement to the PA news agency on Monday, Rothschild’s family said “our father Jacob was a towering presence in many peoples’ lives” and that he would “be buried in accordance with Jewish custom in...
...“There is a small pool of talent that is being [sought] by a lot more people.”...
...“Jacob represented the best and brightest of a generation, and occupied a unique position in finance, culture and philanthropy.”...
...Joining me in London is our Work & Careers journalist, Emma Jacobs. She often writes about television for the FT....
...Jacob Young, Conservative MP for Redcar, is no longer a member of the South Tees Development Corporation as wrongly suggested in an article on January 30....
...While Danny Riding, a lawyer at Travers Smith, owns a four-bedroom house in the Welsh countryside, a big trade-up from his former one-bed rental in London, he probably pays about £1,500 a month on travel...
...Despite the landmark anniversary, Jacobs isn’t in a retrospective mood....
...emma.jacobs@ft.com...
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