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Bayer Moves Away From Breakup Despite Investor Pressure
- Bayer management to improve three units operationally first
- Labor unions have agreed to job cuts, oppose breakup
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Bayer AG is leaning against breaking up the conglomerate, rejecting pleas from investors frustrated by the company’s ongoing struggle to recover from its costly purchase of Monsanto, according to people familiar with the matter.
Chief Executive Officer Bill Anderson and other Bayer leaders are skeptical that this year is the right time to make a major change to the business model, said the people, who discussed the private information on condition of anonymity.