Bayer Shareholders Angry Over Monsanto Fumble
Posted on 04/26/2019
Bayer has been through a lot, even surviving World War II. 55% of voting shareholders at the annual general meeting for Bayer AG refused to endorse the actions of company management for 2018. Essentially the vote ruling is against absolving Bayer CEO Werner Baumann and other key managers of responsibility for their actions in the takeover of Monsanto. Bayer’s US$ 63 billion acquisition of Monsanto has exposed the German drugs and chemical company to a floodgate of U.S. lawsuits over the weedkiller Roundup which causes cancer. Investors at the meeting were upset of the status of their perceived “stable company.”
