LONDON, Nov 8 (Reuters Breakingviews) - Bayer’s (BAYGn.DE) planned surgery risks leaving an ailing rump. Valued in line with peers, Bayer’s seeds, drugs and consumer units could be worth 54 billion euros, 38 billion euros and 16 billion euros respectively, according to Breakingviews calculations using LSEG data. Take off debt and pensions, and Bayer’s equity should total nearly 60 billion euros, some 47% above its current market capitalisation. But hiving off the seeds business would leave a pharma business hitched to a consumer unit, a model shunned by rivals Pfizer (PFE.N), Sanofi (SASY.PA) and GSK (GSK.L). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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