in

Bayer shares up 2.2% after report activist bluebell pushing for break-up

Bayer shares up 2.2% after report activist bluebell pushing for break-up

© Reuters. FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) – Bayer (OTC:) shares gained 2.2% at the open on Wednesday on a report that activist investor Bluebell Capital Partners has built an equity stake and is pushing for a break-up of the German pharmaceutical and agriculture company.

The stock traded at its highest in more than five weeks after Bloomberg reported late on Tuesday that Britain-based Bluebell is also seeking an overhaul of Bayer’s corporate governance, citing sources.

Written by biedexadmin