Friday , January 22 2021

Baiera Steering Board: "We do not sue small owners" – the economy



Mr. Condon, do you have any Baier actions?

Of course.

How much money did you lose for your actions from the Monsanto contract?

Honestly: I'm not looking at it. The stocks are long-term investments and fluctuate. That's right. I'm pretty sure Baier's action will also be restored.

Shareholders also hope. Since 2015, the price of shares has almost halved from 139 euros to 70 euros. How long have the shareholder held?

It's a bit unfair to start from this summit. Not long before it became known in May 2016 that we had discussed the takeover with Monsanto, the price of our action was around 95 euros – that would be the correct basis for comparison. For investors and analysts, we will hold December 5, the capital market. Here we will present our mid-term goals and explain where to go with the company in the long run.

Baier lost ten billion euros worth of a takeover bid for Monsanto. Will the company become a candidate for takeover?

I do not think like that. We are optimally positioned with our leading companies in attractive growth markets. As for the price of the shares, I guess it will change again.

Managers should really increase the value of the company, the Baier board is dropping money. How do you see it on the upper floor?

Of course, we have very seriously grasped the current development of prices. At the same time, we are convinced that we will create a lot of value with the purchase of Monsanto. The fall in prices since August was not due to the operational development of Bayer, but mainly due to the first-instance verdict in the first glyphosate process. This upset the capital market. We are sorry and we are convinced that the verdict will be repealed in the next instance. We have very good arguments and science is on our side.

Baier says glyphosate does not cause cancer, indicating an impressive number of studies. Why did not the court trust you?

The process took place in a very sensitive phase. Although we were already the owners of Monsanto on paper, as a result of the US Department of Justice regulations, we did not have any influence on the management and defense of the court. The judgment is a jury judgment in the first instance and does not really change the fact that scientific and regulatory authorities around the world have found glyphosate for more than 40 years when properly used. Therefore, we are convinced that the judgment will not last.

In the US alone, there are 8700 additional lawsuits. How much money do you have in your war risk file?

We are secured at an industrial level and we have set apart provisions for defense costs.

Do you also expect complaints in Germany?

We can not predict whether and how many claims will be filed outside the United States. I do not want to speculate about it.


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