Bayer moves closer to H&R sale
This article was originally published in The Rose Sheet
Executive Summary
Fragrance and flavors supply business Haarmann & Reimer is expected to sell above current market expectations of $1.33 bil. (€1=$.88), Bayer says. Many competitors in the chemical industry have expressed interest in acquiring the division, Bayer adds. Among companies reportedly planning to bid for H&R are Swiss fragrance supplier Givaudan and German chemicals business Degussa. Although neither company would confirm their intentions, both say they are interested in future acquisitions. Bayer announced plans to sell Haarmann & Reimer in December as one of three divisions the company is shedding to focus on "core" businesses (11"The Rose Sheet" Dec. 10, 2001, p. 6)...