Bayer shares up on rumored Pfizer takeover

14 September 2008

Shares in Germany's Bayer AG rose 1.2% to 53.34 euros on rumors that global drug giant Pfizer may make a bid for the firm. Analysts are suggesting that, since Pfizer sold its health care division to Johnson & Johnson, it may now be interested in Bayer's prescription drug business. Shares in Bayer were revived in 2007 by a rumored Novartis takeover but have fallen 15% over the course of this year. Neither firm has issued a comment on the matter.

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