Bayer AG is seeking shareholder authorization to raise billions of euros through a capital increase in case it needs to quickly resolve its U.S. legal troubles, causing the stock price to plummet.
The German company will seek approval at its annual meeting next month for a potential equity offer of 35% of its current share capital, according to a letter from Supervisory Board Chairman Norbert Winkeljohann.
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The proceeds would be used exclusively for strengthening the balance sheet during a resolution of the US