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Activist investor Elliott has taken position in Germany's Bayer - sources

Activist investor Elliott has taken position in Germany's Bayer - sources
FILE PHOTO: A plant belonging to Germany's largest drugmaker Bayer is seen in Leverkusen February 22, 2013. REUTERS/Ina Fassbender/File Photo -
Ina Fassbender(Reuters)
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By Arno Schuetze and Greg Roumeliotis

FRANKFURT/NEW YORK (Reuters) – Activist investor Elliott has taken a position in Germany’s Bayer <BAYGn.DE>, the latest in a string of investments in German companies, three people familiar with the matter told Reuters on Friday.

Elliott has held shares in Bayer already for more than one year, two of the sources said, declining to specify the size of the stake.

The activist fund, owned by Paul Singer, declined to comment. Bayer did not have an immediate comment.

While Elliott has tried to talk to Bayer’s top management, it has not been able to get a meeting with Bayer Chief Executive Werner Baumann or one of his colleagues, one of the sources said.

Elliott owns stakes in German steelmaker ThyssenKrupp <TKAG.DE>, utility Uniper <UN01.DE> and food processing machinery maker GEA Group <G1AG.DE>. It has pushed for strategy changes at those commpanies.

(Writing by Ludwig Burger and Arno Schuetze; Editing by Douglas Busvine)

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