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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....
...Shah will also need to leave the company to return in his new role heading the BBC’s board....
...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....
...HOLD: Caledonia Mining Corporation (CMCL) The Zimbabwean gold miner is growing, but was buffeted by operational difficulties and higher costs, writes Alex Hamer....
...Bayer has had to pay out billions of dollars after juries in litigation that was also led by Wisner found a link between a weedkiller developed by Monsanto, the US company the German group acquired in 2018...
...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...
...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....
...However, Fox’s net income jumped to $704mn, compared with a net loss of $50mn a year ago when the company paid nearly $800mn to settle a lawsuit brought by voting company Dominion about its role in peddling...
...The company has set aside billions of dollars to pay for Roundup litigation costs....
...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....
...While conservative lawmakers and billionaires try to undo the inclusion programmes that US corporations rolled out after George Floyd’s murder in 2020, nearly every one of the dozen executives I have interviewed...
...Ireland’s corporation tax receipts bounced back strongly in November after three months of declines, alleviating fears that a bonanza from international tech and pharma companies in the country had peaked...
...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...
...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...
...Panuwat’s company, Medivation, was bought in 2016 by Pfizer for $14bn. But the stock he purchased at the time was not that of Medivation....
...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....
...In 2017, investors including TowerBrook sold Hayfin to British Columbia Investment Management Corporation, a Canadian pension plan....
...The Oversea-Chinese Banking Corporation, Singapore’s second-largest lender, has made an offer to fully acquire its life insurance subsidiary Great Eastern Holdings....
...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....
...Lex has been following the travails of Bayer and the fallout from its disastrous acquisition of Monsanto in 2016....
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