Hoechst To Spin Off HMR?
Further to comments made earlier this year that German pharmaceutical and chemical company Hoechst might spin off its pharmaceutical business Hoechst Marion Roussel (Marketletter May 13), the firm has indicated that it is considering such a move.
Spinning off the pharmaceutical unit into a separate company is intended to boost shareholder value and would represent one of the most significant restructurings in German industry, according to the Financial Times.
It is understood that Hoechst chairman Jurgen Dormann will propose the spin-off at the next annual general meeting which will take place next year. However, the firm is saying that no final decision about HMR has been taken.
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