Bayer says that it has increased its offer price to get hold of the remaining
shares in fellow German firm Schering AG that it does not already own.
The company will pay remaining minority shareholders of Schering a
‘squeeze-out’ price of 98.98 euros per share, which is up from the
89.36 euros a share that was offered in November. Bayer noted that the
difference in price is principally due to the decline in capital market
returns that has occurred since September 13, the reference date for the
valuation underlying the compensation offer.
Bayer acquired Schering earlier this year in a deal worth around 16.9
billion euros and currently holds more than 96% of the latter firm’s
shares. The Leverkusen-headquartered group is planning to apply for the
new name Bayer Schering GmbH to be entered into the commercial register
later this month.
