Bayer said to be considering a potential spinoff of crop science business
Bayer says a German news report claiming its new CEO is considering divesting the company’s crop science division is “based purely on speculation”.
German-based Platow Brief, a banking and finance publication, says Bill Anderson wants to take the agrochemical business public in a move that models Siemens Energy. The article states Bayer could bring the agricultural division to the stock market quickly. The Platow article also states Bayer would likely “initially retain a significant stake in Crop Science in order to later sell it on the stock exchange”.
Bayer’s Crop Science sales were down 1.1% in the first quarter of 2023 compared to year-ago numbers.