Jeff Ubben's Inclusive Capital Sells $369 Million in Bayer Stock

Dow Jones03-24

By Adria Calatayud

Investment firm Inclusive Capital, founded by activist investor Jeff Ubben, is selling a stake in Bayer for 318 million euros ($369.3 million).

Inclusive Capital sold around 8.5 million shares in the German agricultural and pharmaceutical company, representing a 0.9% stake, according to terms of the sale seen by Dow Jones Newswires. The shares were sold at 37.45 euros each, according to the deal terms. Bayer's shares closed at 38.47 euros on Monday.

Shares in Bayer were down 2.1% at 37.67 euros in European midday trading Tuesday, having fallen as much as 3.7% earlier. The stock is up 56% over the past year.

Bloomberg first reported the stock sale.

Ubben's firm took a stake in Bayer in early 2023 and pushed the company to hire an external candidate as its chief executive.

Bayer appointed Ubben to its supervisory board in 2024 with a mandate until 2028, citing his experience in financial and capital markets.

The Wall Street Journal reported in 2023 that Ubben was shutting down his social investing-focused firm, Inclusive Capital Partners, and that it had begun winding down its funds and returning capital to its limited partners.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

March 24, 2026 08:22 ET (12:22 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The shares were sold at 37.45 euros each, according to the deal terms. Bayer's shares closed at 38.47 euros on Monday. \n\n\n  Shares in Bayer were down 2.1% at 37.67 euros in European midday trading Tuesday, having fallen as much as 3.7% earlier. The stock is up 56% over the past year. \n\n\n  Bloomberg first reported the stock sale. \n\n\n  Ubben's firm took a stake in Bayer in early 2023 and pushed the company to hire an external candidate as its chief executive. \n\n\n  Bayer appointed Ubben to its supervisory board in 2024 with a mandate until 2028, citing his experience in financial and capital markets. \n\n\n  The Wall Street Journal reported in 2023 that Ubben was shutting down his social investing-focused firm, Inclusive Capital Partners, and that it had begun winding down its funds and returning capital to its limited partners. \n\n\n \n\n\n  Write to Adria Calatayud at adria.calatayud@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 24, 2026 08:22 ET (12:22 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2621064004","isCrawlerRequest":true}