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...He rolls up his sleeves,” said Karen Massey, chief commercial officer at biotech company Argenx, who worked with him at Roche....
...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....
...These are largely, but not exclusively, a legacy of its $63bn acquisition of US crops company Monsanto in 2016....
...The company has warned of zero free cash flow for 2023....
...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...
...At the other end of the spectrum, Bayer has so far paid $20bn for lawsuits related to its acquisition of Monsanto and the allegedly carcinogenic properties of its glyphosate herbicide....
...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....
...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 company has set aside billions of dollars to pay for Roundup litigation costs....
...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”....
...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...
...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...
...The deal increased the company’s debt and exposed it to sprawling litigation risks over Monsanto’s weedkiller Glyphosate, which is alleged to cause cancer....
...Shares in Bayer have underperformed since the group’s €63bn takeover of US agrochemical giant Monsanto, which saddled the company with debt and exposed it to costly and drawn-out litigation over allegations...
...It is only the second time that a company’s lobbyists have been banned from entering the European parliament, after agrochemical company Monsanto’s representatives were barred in 2017....
...Despite that, the company has taken steps to end the protracted crisis over Roundup, which Bayer acquired as part of its ill-fated $63bn acquisition of US crop sciences business Monsanto in 2016....
...Over the weekend, Bayer also lost a key court case in the US on weed killer Roundup, which it acquired via its merger with Monsanto....
...The German conglomerate has become a poster child for the pitfalls of mergers and acquisitions, still nursing a giant hangover from its disastrous $63bn takeover of Monsanto agreed in 2016....
...With a stock market value of just €51bn, the company is currently worth less than Bayer on its own before the Monsanto acquisition....
...The company is still reeling from its ill-fated $63bn takeover of the US seeds maker Monsanto in 2016....
...Bayer turned the tables on Monsanto and bought the US company in a $63bn transaction that now ranks as one of the most disastrous takeovers....
...Bayer has lost a lot of ground since its disastrous 2018 acquisition of Monsanto. Bill Anderson, who became chief executive in June, describes it as bogged down in litigation, bureaucracy and debt....
...Bayer’s portfolio through the German group’s 2016 acquisition of Monsanto, for their cancer....
...The company will report second-quarter results on August 8....
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