Exclusive-Bayer investor Artisan calls for break up

Bayer is a "conglomerate" that needs to make major changes including "de-merging" two of its three business arms, investor Artisan Partners told Reuters on Friday. Artisan wants the drugs to-pesticides company to demerge its over-the-counter and pharmaceutical units, it said. "Recently we wrote a letter to the conglomerate Bayer — and it is a conglomerate," David Samra, founding portfolio manager of Artisan's International Value team, said in an interview.