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Bayer Agrees To Voluntary Special Audit Of Due Diligence On Major M&A Deals

Bayer said Thursday that it agreed to allow an independent expert to review its existing specifications and requirements for conducting due diligence on major deal in the future. The company would publish reports of the expert on its website by the end of March.

Bayer reached a agreement with Christian Strenger, a stockholder of the company, on a voluntary special audit of due diligence procedures. The agreement allows Hans-Joachim Böcking of the University of Frankfurt to review the company's existing rules for conducting due diligence for major deal.

Bayer said lawyer Ralph Wollburg of Linklaters and Prof. Dr. Mathias Habersack of the University of Munich would issue more detailed statements about the legal opinions they prepared at the end of 2018 and in early 2019 concerning the duties of the Board of Management in relation to the Monsanto acquisition.

On Wednesday, Bayer said its Chairman Werner Wenning would leave the German drugs and chemicals company before his term expires, amid legal issues surrounding its weedkiller Roundup.

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