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Bayer to float MaterialScience plastics unit

September 18, 2014
Energy & Chemical Value Chain
(MarketWatch) – Bayer AG on Thursday said it plans to float its plastics business, to focus entirely on its life-sciences operations.
 
“In this way Bayer would position itself as a world-leading company in the field of human, animal and plant health,” the German pharmaceutical company said in a statement, confirming an earlier report by The Wall Street Journal.
 
Bayer’s BAYN, +4.89%  plans are subject to approval by the company’s supervisory board, which is due to meet later Thursday.
 
The Journal reported Wednesday that Bayer planned to shed its MaterialScience business but hadn’t decided what form the separation would ultimately take, be it an outright sale, initial public offering or spin off, people familiar with the matter said.
 
By Neetha Mahadevan
 

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