invites environmental groups to discuss monsanto bid
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Bayer CEO Werner Baumann:

Invites environmental groups to discuss Monsanto bid

Arab Today, arab today

Arab Today, arab today Invites environmental groups to discuss Monsanto bid

Bayer CEO Werner Baumann
Frankfurt - Arab Today

Bayer's chief executive said in an interview published Sunday he is ready to meet environmental groups to address concerns about his group's plans to take over US agrochemicals giant Monsanto. 

In an interview with the Sunday newspaper Frankfurter Allgemeine Sonntagszeitung, Werner Baumann also hinted that the Monsanto brand could disappear once the business is integrated into Bayer.

Bayer, a household name thanks to its painkiller Aspirin, said this week that it is offering $122 per share in cash for Monsanto -- $62 billion (55 billion euros) in total.

If successful, it would be the biggest foreign takeover by a German company and would create a new world leader in seeds, pesticides and genetically modified (GM) crops. 

Monsanto has dismissed the offer as too low, but said it was willing to enter into further merger talks.

Environmental campaigners fear that the combined group's dominant market position in the seeds and pesticides markets could lead to higher prices, limit consumer choice and open the door to Monsanto's genetically modified crops being marketed in Europe.

Baumann has sought to limit opposition to any takeover bid by inviting campaigners to talk to Bayer's management. 

"As much as I talk to our investors to convince them of the plans, the offer also stands for environmental groups and other non-governmental organisations," Baumann said. 

"Let's talk about the matter and its prospects."

Bayer would continue to uphold its strict ethical standards if it succeeded in acquiring Monsanto, Baumann said. 

"Our way of doing business may differ from the way Monsanto does. I can assure you that we would conduct these businesses based on the same standards as our other operations," he said.

Asked whether Bayer would retain the Monsanto brand Baumann said: "We'll decide that when the time comes. Suffice to say that Bayer enjoys an excellent reputation and appeal worldwide. We must take advantage of that."

Bayer's shares have plummeted since it announced its takeover plans as investor concern has grown that the price it is offering is too high. 

Baumann insisted that Bayer needed to make a "very attractive offer which values Monsanto fully".

Asked whether Bayer might have to sell off other assets to finance the deal, the chief executive said: "No. Our finances are solid. We'll finance the deal solely through a mixture of loans and own funds."

Source: AFP

arabstoday
arabstoday

GMT 03:09 2018 Wednesday ,10 January

US energy watchdog rejects plan

GMT 19:21 2017 Monday ,30 October

Egypt made big strides in executive steps

GMT 18:14 2017 Thursday ,19 October

Nicaragua to sign Paris climate accord

GMT 12:35 2017 Tuesday ,10 October

US to end Obama climate plan

GMT 05:27 2017 Thursday ,28 September

Mexico unlikely to find more survivors

GMT 04:28 2017 Thursday ,25 May

Approve coal-fired power plants

GMT 04:16 2017 Wednesday ,24 May

Bangladesh to impose carbon tax in June
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

invites environmental groups to discuss monsanto bid invites environmental groups to discuss monsanto bid

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

invites environmental groups to discuss monsanto bid invites environmental groups to discuss monsanto bid

 



GMT 12:11 2017 Thursday ,27 July

Tony Baroud to present new TV show

GMT 23:00 2017 Monday ,16 October

Egypt FM to head for Slovenia on Monday

GMT 20:06 2017 Friday ,20 January

Daesh in new demolitions at Syria’s Palmyra

GMT 21:06 2017 Friday ,24 November

Marriyum condemns Hayatabad terrorists attack

GMT 01:00 2017 Saturday ,25 November

Cabinet Affairs Minister Meets Indonesian Ambassador

GMT 02:34 2018 Thursday ,04 January

Merger creates state-owned gas giant

GMT 10:08 2017 Tuesday ,07 March

Geneva farce: The regime is the opposition

GMT 10:19 2017 Saturday ,18 November

AJK Prime Minister condemns across LoC shelling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday