Bayer to buy Chiron unit for $1.1 billion, shed Agfa, acquire stake in U.S. venture
Article Abstract:
Pharmaceuticals giant Bayer AG revealed that it will purchase Chiron Corp.'s diagnostics unit for $1.1 billion to enhance its position in the diagnostics market. The purchase, which catapults Bayer to No. 4 in global sales rankings of diagnostics companies, comes in the wake of two other strategic moves by Bayer: the plan to sell its Agfa film division in 1999 and the move to acquire a 50% interest in a North American seed-protection venture with Crompton & Knowles Corp. Bayer expects to close the purchase, even though it requires regulatory approvals, by end of 1998.
Comment:
Will purchase Chiron Corp's diagnostics unit, US
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Charges pull BASF's pretax profit down
Article Abstract:
BASF AG posted a decline of 62% in its pretax profits for the 1999 third-quarter. The company, as a result of one-time charges, posted 290 million euros in pretax profits during the period.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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