Monsanto Bid Shows Courage Bayer Chairman Sees as Key to Success
June 03, 2016
June 03, 2016 by Bloomberg
Bayer AG’s Werner Wenning has a message for anyone questioning his company’s attempt at the biggest takeover in German corporate history. “You need the courage to embrace change, if a company wants to survive long term amid global competition,” the supervisory board chairman said in written comments in response to questions. “I can think of many other companies that have secured their successes with profound changes.” Monsanto last week rejected Bayer’s $62 billion buyout offer as too low, though the U.S. company said it’s open to further talks. Acquiring Monsanto would make Bayer the world’s biggest supplier of farm chemicals and seeds. The Leverkusen, Germany-based company’s top executives have been talking to investors and media to build support for the bid.