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Bayer to Delist Shares from NYSE

10:31 AM MDT | September 7, 2007

Bayer says it plans to delist its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE), the latest non-U.S. chemical company to announce plans to withdraw from U.S. stock exchanges. The company says it will file for delisting on September 17, and that it expects trading of its ADSs to cease at the end of September or early October. Bayer says it expects the delisting to generate €15 million/year ($20 million/year) in cost savings. The company says it will also deregister and terminate its reporting obligations under the U.S. Securities...

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