Bayer Reduces Stake In Spinoff Covestro, With An Eye On Monsanto

Published: Jun 07, 2017

Pharmaceutical giant Bayer (BAYRY) said today that it is cutting its holding in Covestro, a Bayer spin-off and high-tech polymer supplier, through an accelerated book building process with a targeted volume of 1 billion euros.

The move comes in conjunction with the German-based firm's acquisition of U.S. agrochemical firm Monsanto (MON) .

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