GO
Loading...

Bayer CEO Signals Break from Major M&A Activity

Bayer CEO Werner Wenning signalled that the company is set to take a break from big acquisitions after a spate of deals that have catapulted it into leading positions in healthcare and crop science.

A year after taking over German drug maker Schering, Wenning told the Financial Times that Bayer now wants to "successfully integrate (the group) before throwing ourselves into the next big transaction".

With the Schering integration only seen "80% complete" by late 2008, Wenning said he assumes Bayer will still sport its "three pillars" of drugs, crop science and plastics in 2010.

However, should US rival Schering-Plough confirm rumours by putting up for sale its Intervet veterinary medicines unit, Bayer "would have a look" at it, he added.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • This Day in History, April 28

    In 1967 Muhamad Ali refuses induction into the U.S. Army, in 2003 Apple launches the iTunes Music Store, and in 2004, Comcast abandons its bid to buy Disney.

  • Definitely don't sit in cash: Pro

    Edward Campbell, QMA portfolio manager, says stocks will perform better than bonds and reveals where he is seeing the best investment opportunities.

  • Can Apple grow market share?

    Gene Munster, Piper Jaffray analyst, digs deep into Apple' quarterly results, and explains why Apple needs to do more acquisitions.