Bayer AG - Stockholders' Newsletter Second Quarter 2007

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Bayer receives Takeover Award 2007

Klaus Kühn, Bayer CFO (right) received the award from Dr. Lutz Raettig, Chairman of the Supervisory Board of Morgan Stanley Bank AG

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Klaus Kühn, Bayer CFO (right) received the award from Dr. Lutz Raettig, Chairman of the Supervisory Board of Morgan Stanley Bank AG

Leverkusen/Frankfurt. Bayer recently received the German Takeover Award 2007 for its acquisition of Schering AG, Berlin, Germany. The prize is awarded annually by the Bad Homburger Kreis – Forum für Übernahmerecht (an affiliation of business and political leaders) and Deutsche Börse AG for the best public takeover in Germany from an investor perspective. The expert jury was particularly impressed by the speed and quality of the acquisition. Bayer announced its intention to acquire Schering AG in March 2006 and only three months later had already gained control of 88 percent of Schering shares. Bayer now holds more than 96 percent of shares in the company, which has since been renamed Bayer Schering Pharma AG. The acquisition of Schering AG was the Bayer Group’s largest-ever corporate transaction.