Elliott targets Bayer in break-up push

Elliott Management has built up a stake in Bayer with an aim to split the German drug and chemicals giant into two entities, according to reports.

The activist investor has reportedly held its position for around a year and has tried, and failed so far, to get a meeting with the company's CEO Werner Baumann to discuss strategic options.

Though the size of the activist's holding is unclear, German law requires investors to reveal any position larger than 3%.

The news follows Bayer's $63 billion takeover of Monsanto and the possible ensuing mass-litigation, due to the suspected cancer link of one of the US target's weedkiller products.

It also underscores Elliott's interest in companies based in Europe's largest economy, with the investor reputedly owning stakes in food processing machinery maker GEA, energy company Uniper and steelmaker ThyssenKrupp.

Interested in Elliott? Check out 8 fights the activist has picked in Europe.

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