BAYER: "sin callos" walk pretty...

.

Bayer to sell Dr. Scholl’s to Yellow Wood for $585 Million 

By Tim Loh 22 de julio de 2019

• -It’s the embattled German giant’s latest planned sale CEO 
• -Werner Baumann is also looking to sell animal health unit

Bayer AG agreed to sell the Dr. Scholl’s foot-care business to Yellow Wood Partners for $585 million, another effort by the German company to streamline operations amid investor criticism of its business model.

Chief Executive Officer Werner Baumann is under pressure to prove that Bayer’s dual focus on agriculture and health care makes sense after last year’s $63 billion takeover of Monsanto Co. The drugmaker’s shares have tumbled more than 35% since the deal closed, hurt by an avalanche of lawsuits in the U.S. alleging that top-selling weed killer Roundup -- which Bayer inherited from Monsanto -- causes cancer. 

Ver:
 Si es Monsanto...no es santo: Bayer despedirá al 10% de su plantilla (12.000 empleados)

Bayer vowed in November to cut 12,000 jobs around the world -- about 10% of its workforce -- and exit its animal-health business , along with parts of its consumer health division. In May, it agreed to sell its Coppertone brand of sun-care products for $550 million to Beiersdorf AG.

Ver:

BAYER se protege y...echa crema Coppertone.

 
Bayer bought Dr. Scholl’s in late 2014 as part of its $14 billion takeover of Merck & Co.’s consumer-health unit. Now, Boston-based Yellow Wood is acquiring the product rights in the Americas, where it will take on about 30 employees in the U.S. and Canada, the companies said Monday in a statement. The deal is expected to close in the fourth quarter.

Yellow Wood invests in mid-market consumer brands, having built a portfolio of beauty and health labels including Freeman Beauty cosmetics and Bare Foot, which produces foot treatments and scrubs.

Bayer’s commitment to health and agriculture could be at risk after activist fund Elliott Management Corp. -- which has pushed for breakups in the past -- bought a $1.3 billion stake.

Citigroup Inc. and Sawaya Partners were financial advisers to Bayer, while Covington & Burling gave legal advice. Yellow Wood’s legal adviser was Fried Frank. (Ver)