Bayer Aktiengesellschaft (0P6S.IL)
- Reuters
Bayer to book extra $4.5 billion provision for Roundup litigation
FRANKFURT (Reuters) -Bayer said on Thursday it would book an additional provision of $4.5 billion related to litigation which alleges that its weedkiller Roundup can cause cancer. Bayer made the announcement in an update to investors on how it plans to deal with Roundup-related lawsuits that have dogged the company since it acquired the brand as part of its $63 billion purchase of Monsanto in 2018. The decision comes after a U.S. judge in May rejected Bayer's plan to try to limit the cost of future class action over claims that Roundup causes cancer.
- Reuters
Bayer says to appeal U.S. court ruling on PCBs if necessary
German chemicals maker Bayer said on Wednesday it may appeal an order in a U.S. legal case to pay $185 million to four staff members of a school in the state of Washington over exposure to polychlorinated biphenyls, or PCBs, made by the former Monsanto Co. Bayer, which bought Monsanto for $63 billion in 2018, said it disagreed with the verdict and planned to pursue post-trial motions and, if necessary, an appeal. "The undisputed evidence in this case does not support the conclusions that plaintiffs were exposed to unsafe levels of PCBs at the Sky Valley Education Center (SVEC) or that any exposure could have possibly caused their claimed injuries," Bayer said in a statement.
