Europe Movers: Bayer, Drillisch, Volkwagen, Wolford

Arthi Gupta
14 Sep, 2012
New York City

Bayer agreed to acquire the U.S. animal health business of Teva for up to $145 million. Gerry Weber third quarter sales revenues climbed 22% to

[R]2:15 PM Frankfurt – Bayer agreed to acquire the U.S. animal health business of Teva for up to $145 million. Gerry Weber third quarter sales revenues climbed 22% to €178.4 million. Volkswagen August sales rose 19%. Wolford quarterly loss widened.[/R]

Bayer AG rose 1.1% to €64.66 after the German chemical group’s health care division agreed to acquire the U.S. animal health business of Teva Pharmaceutical Industries for up to $145 million. The purchase price includes an upfront payment of $60 million plus a total of $85 million in milestone payments, which are linked to the successful and timely achievement of manufacturing and sales targets.

Deutsche Bank AG, the investment bank soared 4% to €33.49 after a broker downgrade.

Drillisch AG rose 0.9% to €9.27 after the telecommunication service provider announced a plan to buy back 3.79 million shares.

Gerry Weber International AG declined 1.4% to €34.45 after the German fashion and lifestyle firm reported third quarter sales revenues climbed 21.9% to €178.4 million from the prior year. Net income climbed 21.9% to €12.8 million or 28 cents per share from €10.5 million or 23 cents per share last year.

Volkswagen AG soared 5.9% to €153.90 after the carmaker said sales rose 18.9% in August to 719,500 units.

Wolford AG dipped 0.9% to €26.75 after the Austrian luxury label reported first quarter sales climbed 4.1% to €33.1 million from last year. Net loss in the quarter widened to €3.2 million compared to a net loss of €1.8 million the prior year.