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Bayer to Cut 2017 Forecasts as Crop Unit Struggles in Brazil

08:09 EDT 30 Jun 2017 | Topix

Bayer AG plans to cut its sales and profit forecasts for this year because of unexpectedly high stockpiling in Brazil of its crop-protection products. Full-year earnings before interest, taxes, depreciation and amortization and other special costs will be reduced by 300 million euros to 400 million euros, the Leverkusen, Germany-based company said in a The dimmer outlook comes even as the conglomerate forges ahead with its proposed $66 billion acquisition of Monsanto Co., the world's largest seed company.

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