(Reuters) – Chemicals giant Bayer, under pressure from activist shareholders, said on Wednesday it has hired an external lawyer to advise its supervisory board and has set up a committee to help resolve a multi-billion dollar glyphosate litigation issue. Bayer has seen its share price tumble in the wake of its $63 billion acquisition of Monsanto, which ...
His appointment is intended to add fresh and independent perspectives to the advice given to the Board of Management.
We are convinced that with his expertise, John H. Beisner will provide very valuable and concrete advice on the ongoing litigation as well as the mediation.
Elliott welcomes these steps, and is confident that today's statement marks a step change in Bayer's approach to addressing the legal challenges currently facing the company.
Elliott looks forward to the company building upon today's announcement, and making a credible commitment to the exploration of long-term value creative levers beyond the immediate litigation and governance enhancements.
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