Bayer denies takeover rumors

FRANKFURT, Germany Reports of Bayer’s imminent takeover appear greatly exaggerated.

The company’s chief executive officer told a German newspaper that it would not be taken over, amid rumors last week that Pfizer sought to acquire it. But Bayer has a number of drugs in its research pipeline, while many of Pfizer’s blockbuster drugs will soon go off patent, facing competition from generic drug makers.