((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Corrects short amount in title and first paragraph. Replaces word “then” with “than” in paragraph 5) by Nell Mackenzie and Ludwig Burger
Hedge fund DE Shaw took a 102 million euro ($108 million) short bet against Bayer BAYGn.DE on Tuesday, according to a regulatory filing in Germany, following a results presentation that sent its shares at their lowest level in 20 years,
A short position reflects the opinion that the price of a financial asset will decline.
New York-based DE Shaw, one of the largest hedge fund managers with more than $60 billion in assets, declined to comment.
Bayer had no immediate comment.
Bayer warned on Tuesday that weak agricultural markets risked another decline in profits next year, after reporting a lower-than-expected adjusted quarterly profit.
The remarks made by Chief Executive Bill Anderson caused the company's shares to fall sharply and increased pressure on the chief executive to follow through on his turnaround efforts.
Bayer shares hit a 20-year low on Wednesday, closing the session down 3.5%. On Tuesday, they fell 15.8% compared to the previous day's close.
(1 $ = 0,9444 euro)
