ACTIONS CORNER

Schering acquisition has a sequel for Bayer

The acquisition of Schering more than six years ago is to cost Bayer €300 million more. A ruling by the Berlin Regional Court in first instance says shareholders, who received €89.36 per share through the acquisition by the pharmaceutical and chemical company under the then control agreement, will now get €124.65, announced specialist corporate-law firm Dreier Riedel. In addition, the annual compensation was increased by €1.49 to €5.11. Moreover, the difference in the settlement must bear interest from 27 October 2006. By the decision of the Berlin Regional Court, Schering minority shareholders were confirmed in their legal opinion that they had been pushed out of the company far under value, said Peter Dreier. A Bayer spokesman said on 6 May the Group continues to hold the former payment appropriate. In addition, an opinion on the information had been rejected. A spokeswoman for the Berlin Regional Court was unwilling to comment on the proceedings.