(Corrects short quantity in headline and first paragraph. Corrects the phrase “then” to “than” in paragraph 5)

By Nell Mackenzie and Ludwig Burger

LONDON/FRANKFURT (Reuters) – Hedge fund D.E. Shaw took a 102 million euro ($108 million) short bet towards Bayer (OTC:) on Tuesday, a regulatory submitting in Germany showed, following an earnings presentation that despatched its shares to a 20-365 days low,

A short area shows a test that the price of a monetary asset will drop.

Contemporary York-primarily based mostly mostly D.E. Shaw, one of the necessary hedge fund commerce’s ideal managers overseeing larger than $60 billion in sources, declined to comment.

Bayer did now not straight comment.

Bayer warned on Tuesday that primitive agricultural markets would be seemingly to cause extra falls in subsequent 365 days’s earnings, after releasing a lower-than-anticipated quarterly adjusted profit.

The remarks offered by Chief Executive Invoice Anderson sparked a interesting drop in the firm’s shares and increased tension on the CEO to declare on his turnaround efforts.

Bayer shares fell to a up to date 20-365 days low on Wednesday closing the session 3.5% lower. On Tuesday, they fell as grand as 15.8% from yesterday’s conclude.

($1=0.9444 euro)

(This myth has been corrected to repair the short quantity in the headline and paragraph 1, and adjustments the phrase to ‘than’ from ‘then’ in paragraph 5)