Bayer shareholders vented their anger over its stock price slump on Friday as li...
BONN - Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto.
Bayer’s management, led by chief executive Werner Baumann, could see an embarrassing plunge in approval ratings, down from 97 percent at last year’s AGM, which was held shortly before the Monsanto takeover closed in June. About 30 billion euros have been wiped off Bayer’s market value since August, when a U.S. jury found the pesticide and drugs group liable because Monsanto had not warned of alleged cancer risks linked to its weedkiller Roundup.Bayer is appealing or plans to appeal the verdicts.
He said DWS would abstain from the shareholder vote of confidence in the executive and non-executive boards.
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