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.

Bayer has a "whole host of problems" including "too much debt," Samra said.

We suggested "that they cut the dividend to zero because they need the capital to effectively operate and reinvest back in their business," he said, adding that the letter was sent prior to Bayer's earnings results announcement on August 8.

Artisan is Bayer's sixth biggest investor, according to Refinitiv data.

Bayer declined to comment.

(Reporting by Richa Naidu; Editing by Matt Scuffham)

By Richa Naidu