BASF Hopes U.S. Listing Will Boost Sagging Valuation

Article Abstract:

BASF, the German giant, will begin trading stock on the New York Exchange June 7.

Securities issued, listed, Statistical Data Included, Brief Article, Securities

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

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Research and Development in the Physical, Engineering, and Life Sciences, Chemistry, Bayer AG, Chiron Corp., Article

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.

Sales, profits & dividends, Finance