Bayer CEO says group ‘badly broken,’ unable to split up, FT says

CEO Bill Anderson said on Tuesday the conglomerate Bayer is “badly broken” and is unable to split up, Olaf Storbeck of The Financial Times says. Investors have long pushed the company to break itself into three separate groups, but Anderson said the expected loss of exclusivity of key drugs, high debt, costly litigation, and internal red tape has prevented the move. Anderson said according to the Times, “four challenges greatly limit our ability to choose our destiny: whether that be as a three-division company or in smaller parts.”