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Thread: Lawsuit Targets Bank of America, Credit Suisse, etc. Over Disastrous Monsanto Acquisi

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    Administrator Islander's Avatar
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    Default Lawsuit Targets Bank of America, Credit Suisse, etc. Over Disastrous Monsanto Acquisi

    I have been sitting on this article from "naked capitalism" for weeks, debating whether to post it because of its length and vast detail. I finally decided to post it in the event that someone will come along who is interested enough to pursue the entire story.

    Yves Smith
    August 31, 2020

    A series of blockbuster cases against some of the very biggest names in European business haven’t gotten the attention they warrant, in part due to Covid-19 throwing a lot of sand into the judicial machinery. Deutsche Bank, UBS, Credit Suisse and Volkswagen are part of this legal march to the sea. But we’ll focus on the case filed first, Haussmann v. Baumann, a derivative lawsuit over Bayer’s disastrous acquisition of Monsanto. The original filing was in early March; we’ve attached the new amended complaint below. We’ll use it to discuss the legal approach all these suits take. We’ll then turn to the lurid facts of the Bayer-Monsanto deal, which even to connoisseurs of corporate governance train wrecks, is quite the spectacle.

    Keep reading the excruciating details: https://www.nakedcapitalism.com/2020...LKMI3JFSl6VWKI
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    Veteran Member Mr. Wizard's Avatar
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    Default Re: Lawsuit Targets Bank of America, Credit Suisse, etc. Over Disastrous Monsanto Acq

    Thank you for posting. I never understood Bayer's June 2018 purchase of Monsanto, given the latter's existing and growing lawsuits related to Roundup (glyphosate). This article clears that up for me. Bayer was willing to overlook Monsanto's mounting troubles because the acquisition would "bulk up" Bayer and make it more robust against takeover efforts in a chemical/pharma industry where consolidations had been rampant for the past decade. That Bayer was willing to acquire a deeply-troubled Monsanto shows the extent to which Bayer feared a takeover by other industry giants. Silly me....I thought Bayer was the preeminent power in the industry.

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