Bayer seeking to expand its crop science business

Bayer says it is interested in acquisitions and partnerships in crop science after the partial disposal of its plastics business increased the group's firepower.

Marijn Dekkers, its chief executive, said Bayer would be a buyer rather than a seller in any further shake-up of agricultural assets after the collapse of Monsanto's $46 billion (€49 billion) takeover of Syngenta in August.

“We are very committed to our crop science business and have no intention of selling it,” he said. “The question then becomes do you want to add to it? And I would say, yes: if there are appropriate opportunities we would be interested.”

His comments are likely to fuel speculation linking Bayer with the vegetable seed business put up for sale by Syngenta last month and valued by analysts at $2 billion-$3 billion. Mr Dekkers would not comment on targets but said seeds was an area Bayer was keen to strengthen.

The agribusiness market looks ripe for upheaval after Monsanto’s failure to buy Syngenta left the former looking for alternative options and the latter scrambling to mollify investors frustrated by its rejection of the deal.

Copyright The Financial Times Limited 2015