Activist Bluebell builds stake in Bayer, pushes for company breakup -Bloomberg
Reuters
Published Jan 10, 2023 20:01
Updated Jan 10, 2023 20:15
(Reuters) -Activist investor Bluebell Capital Partners has built a stake in Bayer AG (ETR:BAYGN) and is pushing for a breakup of the German pharmaceutical and agriculture company, Bloomberg reported on Tuesday, citing sources.
UK-based Bluebell is also seeking an overhaul of Bayer's corporate governance, the report added.
A Bayer spokesperson, who declined to comment on the report, said: "Generally speaking we are always open for a constructive dialogue with our stakeholders."
Bluebell didn't immediately respond to a request seeking comment.
The report follows news on Monday that the activist investment fund Inclusive Capital Partners, run by hedge fund veteran Jeffrey Ubben, had acquired a 0.83% stake in Bayer, which continues to suffer from a weak market value.
Bloomberg said the size of the Bluebell holding was undisclosed.
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Written By: Reuters
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