LONDON (Reuters) – Hedge fund D.E. Shaw took an 1.02 billion euro ($1.08 billion) short bet against Germany’s Bayer on Tuesday following an earnings presentation that sent its shares to a 20-year low, a regulatory filing in Germany showed.
A short bet is a view that an asset will weaken in price.
New York based D.E. Shaw, one of the industry’s biggest managers overseeing more than $60 billion in assets, declined to comment.
Bayer did not immediately comment.
(Reporting by Nell Mackenzie and Ludwig Berger; Editing by Dhara Ranasinghe)
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