FRANKFURT, Dec 6: Bayer AG’s supervisory board met on Thursday to approve a new group structure which is expected to transform its four divisions into separate legal entities, a move that would facilitate strategic co-operation.

Leverkusen-based Bayer, which has been urged by investors for years to separate its traditionally higher-margin drugs unit from its chemicals business, has repeatedly declined to comment on the agenda of the scheduled board meeting.

The company has previously announced plans to put its key healthcare and agro-chemicals divisions into separate legal units, and has said it might do this with its chemicals unit.

Bayer says a separate healthcare firm would allow it to form strategic alliances, while one for agchems would aid the integration of Aventis SA’s CropScience unit, which Bayer bought in October for $6.47bn.—Reuters