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.