Leverkusen - The voluntary special audit at
The purpose of the audit, which was conducted on the basis of recent projects, was to evaluate the appropriateness of the company's internal specifications and requirements for material M&A transactions in the future. In his review report published on Tuesday, Bocking finds that Bayer's internal specifications and requirements for conducting due diligence in material M&A transactions are appropriate. He also confirms that numerous internal reporting lines through which employees tasked with due diligence investigations for material M&A transactions can communicate right up to top management level exist to an appropriate extent, and that the M&A transactions, the related procedures and reporting lines are monitored.
'Bayer allowed me deep insight into the organization and provided extensive documentation,' said Bocking. 'Based on a careful and thorough assessment and evaluation of the documents submitted to me and the information I was given, I conclude that the specifications, requirements and reporting lines that I reviewed are appropriate for material M&A transactions.'
In Bayer's opinion the outcome of the voluntary special audit attests to the company's very high standards. 'Prof. Bocking's report on Bayer's M&A procedures provides impressive proof that our company works with maximum professionalism and care,' said Supervisory Board Chairman
In addition to the special audit itself, Bocking made various recommendations for further improving the existing due diligence procedures and reporting lines. Bayer has picked up on these recommendations and implemented some of them already.
Bayer had reached agreement with Prof.
Also available there are the more detailed statements issued by lawyer Dr.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of
Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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