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...Growing up in Lake Jackson, Texas, near a massive Dow Chemical factory where his father worked as a chemist, Anderson studied chemical engineering at the University of Texas at Austin and Massachusetts Institute...
...These are largely, but not exclusively, a legacy of its $63bn acquisition of US crops company Monsanto in 2016....
...Investors have sent the company’s shares to their lowest level in 19 years following Anderson’s decision to ditch immediate break-up plans for the company on Tuesday....
...The company is suffering from a sprawling multibillion litigation over its weedkiller glyphosate in the US, which it acquired in its controversial 2016 acquisition of US rival Monsanto and which former users...
...Bayer’s 2018 acquisition of US crop science company Monsanto is the takeover that just keeps on taking. This week’s €2.5bn impairment charge adds to already extensive financial damage....
...The chemicals industry, which sits at the start of a vast number of companies’ supply chains, is seen as a bellwether for industrial production, adding to concern among German politicians and executives...
...But the deal, masterminded by Bayer’s former chief Werner Baumann, has instead saddled the German company with debt and a vast legal fight in the US over Monsanto’s allegedly carcinogenic weedkiller Roundup...
...Thousands of US lawsuits targeting major chemical companies have been filed and agencies globally are tightening regulation....
...The company had almost €39bn in net financial debt at the end of September. Bayer’s woes have not been confined to the fallout from the Monsanto transaction....
...He said that the company’s “four challenges greatly limit our ability to choose our destiny: whether that be as a three-division company or in smaller parts”....
...Adnoc declined to comment.At the heart of the matter is the complexity of the transaction and the cross-shareholdings between the companies’ chemicals arms....
...The company said on Friday that it expected 2023 free cash flow of €2.7bn. This would not cover consensus expectations for a dividend payout of €3bn, as compiled by Visible Alpha....
...The company has warned of zero free cash flow for 2023....
...While it isn’t the only public company that has struggled to file its annual report on time this year, it also faces a decent amount of PFAS (or “forever chemicals”) litigation on top of everything else....
...Onvector, a water treatment company, uses plasma technology where high-energy electrons obliterate the chemicals. Researchers have also joined the cause....
...It is only the second time a company’s lobbyists have been banned from entering the European parliament after representatives from agrochemical company Monsanto were barred in 2017. Read more here...
...rather than a food company....
...Chief executive Martin Brudermüller will in April leave the company after five years at the helm. He will be replaced by Markus Kamieth, who has been overseeing the company’s expansion plans in China....
...The German chemical company, which has been criticised for investing heavily into China while downsizing in Europe, on Friday said it would sell its shares in two plants making chemicals that go into elastic...
...“We own chemical companies but also, on the demand side, we own cosmetic companies, consumer goods and electronics....
...Swiss agricultural chemicals company Syngenta has called off a $9bn Shanghai listing that would have been one of China’s largest initial public offerings in years, as the country’s stock markets struggle...
...But Nippon Soda, a chemical company based in Tokyo, launched an agricultural fungicide called ipflufenoquin in Japan in 2021, which has a mechanism of action very similar to F2G’s olorofim — leading to concerns...
...Investors are stepping up pressure on companies to end the production and use of hazardous “forever chemicals” amid concerns over increasing litigation and regulatory scrutiny....
...BASF has appointed Markus Kamieth to take over as CEO, an executive closely associated with the world’s largest chemical group’s expansion plans in China....
...An 84-year old Japanese chemical company once known for its fertilisers, is now a key input for cutting-edge sectors....
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