Activist investor reported building stake in Bayer, seeking breakup
Bayer up for 'constructive dialogue'
| 1 min read
By Reuters
Bayer's cross symbol hangs in a terminal at Frankfurt International Airport. (Typhoonski/iStock Editorial/Getty Images)
Reuters — Activist investor Bluebell Capital Partners has built a stake in Bayer AG and is pushing for a breakup of the German pharmaceutical and agriculture company, Bloomberg reported on Tuesday, citing sources.
U.K.-based Bluebell is also seeking an overhaul of Bayer’s corporate governance, the report added.
A Bayer spokesperson, who declined to comment on the report, said: “Generally speaking we are always open for a constructive dialogue with our stakeholders.”
Bluebell, which has previously taken stakes in companies such as Danone and Glencore, didn’t immediately respond to a request seeking comment.
The report follows news on Monday that the activist investment fund Inclusive Capital Partners, run by hedge fund veteran Jeffrey Ubben, had acquired a 0.83 per cent stake in Bayer, which continues to suffer from a weak market value.
Bloomberg said the size of the Bluebell holding was undisclosed.
— Reporting by Shivani Tanna in Bangalore; additional reporting by Tom Sims in Frankfurt.
