Bayer Separates Material Science Business Covestro

LEVERKUSEN, Germany—German pharmaceuticals organisation Bayer AG on Tuesday changed a step closer to floating a €11 billion ($12.38 billion) specialty chemicals business by legally and economically separating a unit, now named Covestro AG.

Bayer skeleton to boyant a business, formerly called Material Science, by a center of subsequent year and potentially as shortly as this fall. Bayer skeleton possibly an initial open charity or approach spinoff to…

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