Bayer Surges After Elliott Confirms Stake in German Company
This article is for subscribers only.
Bayer AG stock jumped as much as 6.7% after Elliott Management Corp. disclosed a 1.1 billion-euro ($1.3 billion) stake in the German drug and chemical maker.
Bayer could unlock about 30 billion euros in shareholder value once it puts litigation to over its Roundup weedkiller to rest, Elliott said Wednesday.