A bid has been put in for US agrochemical firm Monsanto by German pharmaceutical and chemicals organisation Bayer, despite raising reputational issues.
American news broadcaster CNBC spoke to Igniyte with regards to the potential impact this deal could have on Bayer’s reputation. Managing Director Simon Wadsworth commented:
“Monsanto has poor reputation online and Bayer will feel the impact of this by association when it becomes the parent company. There will be a knock-on effect of potential damage to sales and employee concerns.”
In 2016, Monsato was revealed to have a “poor” rating in a Harris Poll study of brands and was also ranked as one of America’s most hated companies, coming fifth-lowest in the study. Speaking on Bayer’s acquisition, Simon continued: “It will be costly and a lengthy process given the scale of the opposition, but would reap rewards in the long term.”