Category Archives: Bayer

Bayer Shareholders Vote Against Board over Monsanto Merger

Sustainable Food – Apr 27 2019

Bayer chief executive Werner Baumann was dealt a blow Friday at the German chemical giant’s annual general meeting, amid tensions over last year’s decision to buy US seeds and pesticides maker Monsanto, as disgruntled shareholders voted against management.
Source: AFP

At the AGM in Bonn, 55.5 percent voted against the management board, led by embattled CEO Werner Baumann, with just 44.5 percent of shareholders in favour – a huge drop down from 97 percent support last year.

The result is a slap in the face for Baumann and his management team. Although the vote carries no direct consequences, it is a clear statement by disgruntled shareholders.

Around 500 protesters gathered outside the Bonn conference centre with placards mocking Bayer’s corporate motto “science for a better life” or calling to “stop glyphosate”, the Monsanto-made herbicide at the centre of the group’s woes.

Inside, investors were fuming.

“Bayer has choked on Monsanto,” said Ingo Speich of Deka bank. “The company risks being taken over and dismantled.”

Mark Tuemmler of investors’ federation DSW said 2018 was “a nightmare for shareholders”.

– ‘A scandal’ –

Bayer’s share price fell last year by around 40 percent following its $63 billion takeover of Monsanto in June — the biggest in German history.

At 57 billion euros, its market capitalisation is little higher than the price it paid to acquire Monsanto in the first place.

“A scandal,” Tuemmler said.

Opening the meeting, Baumann acknowledged that some 13,400 US lawsuits relating to glyphosate and initial unfavourable judgements against Bayer “are placing a heavy burden on our company and worrying many people”.

Last year’s share price plunge was driven by the first of two jury rulings so far that have awarded plaintiffs — cancer patients who had been exposed to glyphosate over long periods — $80 million each.

Baumann complained that such decisions had been based on a 2015 finding by World Health Organization arm IARC that glyphosate “probably” causes cancer.

“We remain convinced of the safety of glyphosate,” the CEO said, recalling regulators worldwide found no new evidence that the pesticide causes cancer in reviews prompted by the IARC judgement.

In the two cases already heard, “we remain optimistic that the next higher courts will reach different verdicts,” the CEO added, calling for “decisions based on scientific analysis — and not on emotions”.

The business case for the merger remained as strong as ever, he assured investors, with the merged companies now operating “leading businesses in chemical and biological crop protection, in conventional and biotech seed, and also in digital farming”.

And he reiterated the group’s targets — including its pharmaceutical and over-the-counter medicines units — to increase sales four percent, to 46 billion euros ($51 billion) in 2019, with an operating profit before special items of 12.2 billion euros.

Current market reactions were “exaggerated” and did not reflect Bayer’s “true value”, he said.

SOURCE

How GMO Seeds and Monsanto /Bayer’s “RoundUp” Are Driving US Policy in Venezuela

Mintpressnews – May 6, 2019 – Whitney Webb

With Juan Guaidó’s parallel government attempting to take power with the backing of the U.S., it is telling that the top political donors of those in the U.S. most fervently pushing regime change in Venezuela have close ties to Monsanto and major financial stakes in Bayer.

How GMO Seeds and Monsanto/Bayer’s “RoundUp” are Driving US Policy in Venezuela

CARACAS, VENEZUELA — As the political crisis in Venezuela has unfolded, much has been said about the Trump administration’s clear interest in the privatization and exploitation of Venezuela’s oil reserves, the largest in the world, by American oil giants like Chevron and ExxonMobil.

Yet the influence of another notorious American company, Monsanto — now a subsidiary of Bayer — has gone largely unmentioned.

While numerous other Latin American nations have become a “free for all” for the biotech company and its affiliates, Venezuela has been one of the few countries to fight Monsanto and other international agrochemical giants and win. However, since that victory — which was won under Chavista rule — the U.S.-backed Venezuelan opposition has been working to undo it.

Now, with Juan Guaidó’s parallel government attempting to take power with the backing of the U.S., it is telling that the top political donors of those in the U.S. most fervently pushing regime change in Venezuela have close ties to Monsanto and major financial stakes in Bayer.

In recent months, Monsanto’s most controversial and notorious product — the pesticide glyphosate, branded as Roundup, and linked to cancer in recent U.S. court rulings — has threatened Bayer’s financial future as never before, with a litany of new court cases barking at Bayer’s door. It appears that many of the forces in the U.S. now seeking to overthrow the Venezuelan government are hoping that a new Guaidó-led government will provide Bayer with a fresh, much-needed market for its agrochemicals and transgenic seeds, particularly those products that now face bans in countries all over the world, including once-defoliated and still-poisoned Vietnam.

U.S.-Backed Venezuelan opposition seeks to reverse Chavista seed law and GMO ban

In 2004, then-president of Venezuela, Hugo Chávez, surprised many when he announced the cancellation of Monsanto’s plans to plant 500,000 acres of Venezuelan agricultural land in genetically modified (GM) soybeans. The cancellation of Monsanto’s Venezuela contract led to what became an ad hoc ban on all GM seeds in the entire country, a move that was praised by local farmer groups and environmental activists. In contrast to anti-GM movements that have sprung up in other countries, Venezuela’s resistance to GM crops was based more on concerns about the country’s food sovereignty and protecting the livelihoods of farmers.

Although the ban has failed to keep GM products out of Venezuela — as Venezuela has long imported a majority of its food, much of it originating in countries that are among the world’s largest producers of genetically modified foods — one clear effect has been preventing companies like Monsanto and other major agrochemical and seed companies from gaining any significant foothold in the Venezuelan market.

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Bayer + Monsanto = A Match Made in Hell (23 min)

Corbettreport – June 23, 2018

TRANSCRIPT AND MP3 AUDIO: https://www.corbettreport.com/bayer/

It is hardly surprising that the first thing Bayer did after completing their takeover of Monsanto earlier this month was to announce that they were dropping the Monsanto name, merging the two companies’ agrichemical divisions under the Bayer Crop Science name. After all, as everyone knows, Monsanto is one of the most hated corporations in the world. But Bayer itself has an equally atrocious history of death and destruction. Together they are a match made in hell.

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