Bayer Plastics Unit Could Be M&A Currency

23.02.2011 -

Germany's Bayer could use its MaterialScience unit as "currency" should the company decide to pursue a large acquisition, its chief executive told the Financial Times.

The unit, which makes foam chemicals and plastics used in data disks and car lights, would only be sold if "we wanted to do something so big that we had to use it as currency", CEO Marijn Dekkers was quoted as saying in an interview on Tuesday.

"We'll stay with the three strategic groups as long as they are competitive in their particular areas," Dekkers said, referring to Bayer's MaterialScience, HealthCare and CropScience divisions.

Dekkers said shortly before taking over as CEO in October that a divestment of MaterialScience, the world's largest maker of chemicals for insulation foam, was not imminent, responding to speculation a sale was on his agenda.

He said at the time that all three divisions were of strategic importance to him.