Bayer Sells $3.4 Billion Contraceptives Stake to Apollo

Bayer AG has agreed to sell a minority stake in its contraceptives division to Apollo Global Management for $3.4 billion, a strategic move aimed at addressing the company's escalating legal expenses related to its herbicide Roundup. This divestment allows Bayer to focus on managing the significant litigation costs while still maintaining a presence in the contraceptives market. The sale highlights the ongoing financial challenges Bayer faces due to ongoing lawsuits and underscores the importance of strategic financial maneuvers to manage such pressures.