2023-07-07 14:06:19 ET
Bayer ( OTCPK:BAYZF ) CEO Bill Anderson is working on a possible spinoff of the company's agricultural chemicals unit through a stock exchange listing.
The sale of the Crop Science unit to a private equity firm or a strategic investor isn't an option, according to Bloomberg, which cited Platow Brief reports.
It may take at least three or four months for the plan for a potential spin to be finalized, according to Platow Briefs.
The potential spin comes after a report in April that activist investor Bluebell Capital Partners is renewing its call for the German agriculture and drug company to breakup and for a reshuffle of its supervisory board.
Bloomberg reported in January that Bluebell accumulated an undisclosed stake and wants Bayer to separate its crop sciences business from its drug business.
For further details see:
Bayer evaluating potential spinoff of crop science business - report