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Bayer

This article was originally published in The Tan Sheet

Executive Summary

Firm plans to take roughly $1.78 bil. in asset impairment charges in the fourth quarter of 2003 relating to "the decision to realign the portfolio, the planned stock-exchange listing of 'NewCo' and changes in the operating conditions for the future Bayer Material Science subgroup," Bayer announces Dec. 15. In September, Bayer announced corporate reorganization plans to give Bayer HealthCare legal independence as a carve-out of Bayer AG and to create Bayer Chemicals and Bayer Technology Services as separate entities (1"The Tan Sheet" Nov. 17, 2003, p. 6). The company's healthcare subgroup expects to report charges of about $405.3 mil. partially due to the consolidation of pharmaceutical research facilities, Bayer also noted...
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