Bayer AG (BAYN) Chief Executive Officer Marijn Dekkers told supervisory board members that he sees slim chances of acquiring Pfizer Inc. (PFE)’s animal-health unit after Bayer entered a bid for the business, Financial Times Deutschland reported, citing an internal memo.
Pfizer seems more likely to work toward selling shares in the division to the public, the newspaper cited Dekkers as saying. The acquisition would make strategic sense for Bayer, and the German company entered a non-binding offer to keep an option on the animal-health unit, according to the FTD.
To contact the reporter on this story: Cornelius Rahn in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Kenneth Wong at email@example.com