A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photocrop of improving businesses looks ripe for a split. The $58 billion drugs-to-seeds conglomerate has for years traded at a hefty discount to the sum of its parts, but refused to do anything about it. Activists like Jeff Ubben’s Inclusive Capital Partners may now, however, be in a better position to push for a breakup.
12 times multiple. Add them up, take off debt, pension liabilities and a further 6 billion euros of future Roundup litigation costs, and Bayer’s equity could be worth nearly 110 billion euros. That’s nearly twice the current market capitalisation.
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