FRANKFURT (Reuters) -Bayer said on Friday it would seek shareholder approval to raise fresh equity capital worth close to 35% of its currently outstanding shares over the next three years to be ready for any U.S. litigation settlement.
The so-called “Authorized Capital 2025” shall only be used “if it is absolutely necessary”, it said in a statement on its website.
“It cannot be ruled out, however, that the Company will need to increase the capital stock at short notice in the future, for example in view of potential future settlements with plaintiffs in the United States or in connection with measures to substantially contain litigations in the United States,” it added.
Bayer shares were down 7.6% at 1115 GMT.
(Reporting by Ludwig Burger, Editing by Friederike Heine)
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