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H&R sale anticipated by summer

This article was originally published in The Rose Sheet

Executive Summary

"Binding offers" for Bayer's Haarman & Reimer fragrance and flavors business expected by May, Chairman of the Board of Management Manfred Schneider, PhD, says during Bayer's 1March 13 spring financial presentation. German firm expects to complete sale by summer, Schneider adds. H&R 2002 sales are projected at $763 mil. (E1= $.88), according to Bayer. Among companies expected to make a bid for H&R are Swiss fragrance supplier Givaudan and German specialty chemicals business Degussa. Bayer announced plans to divest division late last year as part of firm's restructuring effort (2"The Rose Sheet" Dec. 10, 2001, p. 6)...
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