Activist investor Jeff Ubben has bought a stake in Bayer AG, the German drugs and agriculture company whose shares have slumped since its Monsanto takeover.
Ubben’s Inclusive Capital Partners directly owns 8.18 million Bayer shares, equivalent to a 0.83% interest, the San Francisco-based firm said in a filing Monday. The stock is worth about €414 million ($442 million) based on Friday’s closing price.
Bayer Chief Executive Officer Werner Baumann has been under pressure from shareholders since the company’s 2018 deal for crop science giant Monsanto. The record German takeover became a legal headache, with Bayer setting aside an estimated ...
