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 Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and is in talks with Aventis Aventis Is a pharmaceutical and lab assay testing company. It was formed in 1999 when Rhône-Poulenc S.A. merged with Hoechst AG. The merged company was based in Strasbourg, France. Sanofi-Aventis was formed in 2004 when Sanofi-Synthélabo purchased 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 rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. , it said, which analysts estimate is likely to be between EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 100 million and EUR300 million. Its provisions will be "sufficient" to cover potential liability to Bayer, Aventis said, without being more specific. |
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