Breaking up is not for us, Bayer CEO says
German drugs and pesticides maker Bayer has no plans to split its three main businesses into separately traded companies, Chief Executive Werner Baumann said, amid a flurry of conglomerates moving to break themselves up. “We are going to continue the course, which is developing our company along the three pillars that we have – pharmaceuticals, crop science and consumer health,” Baumann told Bloomberg in an interview published on Thursday. The comments come after conglomerates such as Johnson & Johnson, Toshiba and General Electric announced plans this month to split up, aiming to simplify their structures and increase focus.
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