FRANKFURT (Dow Jones) – Liam Condon of Bayer's board of directors in Monsanto has estimated that the decline in Bayer's stake is only temporary. "We are confident that Bayer's stock will also recover," Condon told Bathpiegel. The decrease from € 93 to € 71 since August is not due to Bayer's operational evolution, but rather to the first US verdict in the first glyphosate process. This has disturbed the capital market. "We will appeal, and we are confident that the ruling will be lifted at the next level," Condon said.
The Bayer Board of Directors defended the acquisition of Monsanto, an American company. Monsanto is the most expensive acquisitions made by German companies for $ 6.3 billion. Seed producers have a bad image especially in Germany and France, and although they acknowledge Condon, they operate in more than 100 countries. Except for Germany and France, it has no negative effect on the buyer's reputation.
Condon explicitly opposed the NGO's report that Monsanto would enter into a contract to deal with unfair farmers. "In principle, small farmers who get new seeds from seeds that we use independently do not sue," the manager said.
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(Ends) Dow Jones Newswires
November 11, 2018 05:39 ET (10:39 GMT)