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News > Deals
Bayer in lead for crop biz
July 5, 2001: 7:27 p.m. ET

Company reportedly in prime spot to buy Aventis' $3B CropScience business
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NEW YORK (CNNfn) - Europe's No. 2 drug and chemical company Bayer AG is the most likely candidate to snag Franco-German firm Aventis SA's CropScience business, a published report said Thursday.

According to the Wall Street Journal digital edition, the deal for the business, valued at about $3 billion, is two weeks away and could still fall apart at any time. But the article said Bayer has the edge on BASF AG in the auction, which has been going on for months.

In November 2000, Aventis unveiled plans Wednesday to narrow its focus on pharmaceuticals by selling its slow-growing agricultural products unit.

The Aventis CropScience business – nearly one-quarter owned by Germany's Schering AG – has been hit by recent controversy over its StarLink genetically modified corn, which has been approved for only for animal feed but has been found in consumer foods.

Spokesmen for Bayer and Aventis could not be reached for comment. graphic

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