Bayer AG is in talks with Aventis SA over a reduction in the price it paid last year for agrochemicals business Aventis CropScience, due to inaccuracies in documents filed by Aventis. (At Closing News).
Bayer AG is in talks with Aventis SA over a reduction in the price
it paid last year for agrochemicals business Aventis CropScience, due to
inaccuracies in documents filed by Aventis. Aventis said Bayer is
seeking a "substantial post-closing price adjustment," as well
as compensation for misrepresentations it alleges Aventis made in the
course of the sale. Aventis has made provisions to cover a possible
rebate, it said, which analysts estimate is likely to be between EUR100
million and EUR300 million. Its provisions will be
"sufficient" to cover potential liability to Bayer, Aventis
said, without being more specific.
COPYRIGHT 2003 Doane Information Service
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion