Bayer AG Slashes Dividend by 95% in Desperate Bid to Recover from Monsanto Acquisition Disaster
Leverkusen, Germany – Bayer AG, a pharmaceutical and crop sciences company, has announced a drastic 95% reduction in its dividend payout in an effort to address challenges stemming from the acquisition of Monsanto Co. The $63 billion acquisition saddled the German company with significant debt and a deluge of lawsuits, including claims that the herbicide Roundup, owned by Monsanto, caused cancer. The decision to cut the dividend by 95% highlights the company’s struggle to manage …