Bayer shareholders on Friday cast a vote of disapproval of the German drugmaker&...
BONN - Bayer shareholders on Friday cast a vote of disapproval of the German drugmaker’s top management amid anger over a stock price slump as litigation risks mount from the $63 billion takeover of seed maker Monsanto.
Such a vote, which features prominently at every German AGM, is largely symbolic because it has no bearing on management’s liability or tenure but it is seen as a key gauge of investor sentiment. No incumbent executive board members at companies listed in Germany’s blue-chip index DAX has flunked the vote, meaning receiving an approval vote of less than 50 percent at an AGM. Approval rates above 95 percent are typical results.
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