0P6S.IL - BAYER AG BAYER ORD SHS

IOB - IOB Delayed price. Currency in EUR
75.54
-0.32 (-0.42%)
At close: 4:36PM GMT
Stock chart is not supported by your current browser
Previous close75.86
Open75.37
Bid75.16 x 0
Ask76.71 x 0
Day's range75.10 - 76.86
52-week range75.10 - 76.86
Volume118,961
Avg. volumeN/A
Market capN/A
Beta (5Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Bayer’s Dicamba Hit Tests Patience of Frustrated Investors
    Bloomberg

    Bayer’s Dicamba Hit Tests Patience of Frustrated Investors

    (Bloomberg) -- Bayer AG’s loss in the first U.S. trial over the herbicide dicamba is set to test the patience of investors who’ve stuck with the company through the dark days of its Roundup crisis.Most will probably hang on for now, since their investment is based on the assumption that Bayer is undervalued in the face of a hurricane of lawsuits claiming that best-selling weed killer Roundup causes cancer. Adding dicamba to the legal storm -- a chemical accused of killing plants, not people -- probably won’t change that calculus, according to Alistair Campbell, an analyst at Liberum Capital. And Bayer is sharing the potentially multibillion-dollar headache in this case with BASF SE.Even so, the loss in the first U.S. dicamba trial -- with a $265 million jury award -- raises fresh questions about the wisdom of Bayer’s $63 billion Monsanto takeover. That’s happening at a time when the company still needs to prove it can effectively operate the crop science behemoth it built up through its megadeal.“There is still a huge question mark over the Monsanto transaction and what it’s done to Bayer,” Campbell said. “There remains a lot to be proven.”Bayer shares were down 1.9% and BASF’s down 1.1% at 3:10 p.m. in Frankfurt. Bayer has dropped 23% since it closed the Monsanto acquisition and subsequently lost three U.S. trials over Roundup.Bayer’s latest headache emerged Saturday when jurors in a federal court ruled in favor of a farmer who blamed the chemical dicamba for destroying his peach orchards. Bayer and BASF face more than 140 lawsuits over allegations that dicamba wreaked havoc across the Midwestern U.S. when it drifted onto crops that weren’t engineered to resist it.Bayer is already trying to settle tens of thousands of lawsuits claiming exposure to Roundup causes cancer. Both dicamba and Roundup are produced by Monsanto, which Bayer acquired in 2018.The loss heaps more pressure on Bayer Chief Executive Officer Werner Baumann, who staked his career on Monsanto. Last April, after a couple of Roundup trial losses, Baumann became the first CEO of a major German company in decades to lose a shareholder confidence vote.Activist investor Elliott Management later disclosed a stake in the company, raising the prospect of holders pushing to split up the pharma and agro-chemicals conglomerate. Baumann, a defender of that setup, faces another shareholder vote in April.Act FastSince dicamba is another legacy Monsanto product, the latest verdict threatens to undo Bayer’s recent momentum. Since June, the stock has recouped about half of the value it lost following the Roundup trial losses.The ruling is “a negative for sure,” though dicamba will probably not grow into a headache as big as Roundup, said Dennis Berzhanin, an analyst at Pareto Securities in Frankfurt.Here is what analysts say about the Dicamba rulingThe company vowed to appeal, saying there’s no evidence Monsanto’s products were present on the Missouri farm and were responsible for the farmer’s losses.BASF said it was surprised by the U.S. jury’s decision and would use all legal remedies available.Bayer has thus far managed to avoid going back to trial over Roundup and talks have heated up with plaintiff attorneys toward a possible resolution of that litigation. Its shares would probably surge if Bayer can close the Roundup headache for as little as $10 billion, analysts have said.The Roundup and dicamba litigation aren’t Bayer’s only legal woes. It’s set to go to trial in March in the first of thousands of lawsuits claiming it hid safety risks of its Essure birth-control device.Other CasesThe company is also battling lawsuits by numerous cities alleging that Monsanto contaminated waterways with toxic PCBs. Bayer has denied wrongdoing over both weedkillers as well as Essure and PCBs. It also has appealed the Roundup verdicts.It’s unclear how the award will be split between Bayer and BASF. The latter may shoulder two-thirds of the damages, wrote Daniel Wendorff, an analyst at Commerzbank AG.Read More: Bayer’s Roundup Challenge: Avoid More ‘Nuclear’ Jury AwardsMonsanto has been fighting lawsuits since 2015 over its version of dicamba. BASF makes its own dicamba-based herbicide for use on its genetically modified seeds.The companies say the crop damages stem from farmers applying the chemical incorrectly, and that current formulations won’t drift if proper procedures are followed.Peach YieldsIn the Missouri trial, Bader said neighbors planted dicamba-resistant cotton engineered by Monsanto and sprayed it with the older, easy-drift version of the weedkiller made by BASF. The herbicide enveloped his orchards, curling leaves and killing trees.The companies’ lawyers presented statistical evidence showing that Bader’s peach yields had begun to fall prior to 2015. They cited weather events, such as hail storms and late freezes, as the cause for declining production.Bev Randles, a lawyer for Bader, said the verdict sends a message to all U.S. corporations.“There is no giant too big,” she said. “Everyone has to follow the law.”The case is Bader Farms v. Monsanto Co., 16-cv-00299, U.S. District Court, Eastern District of Missouri (Cape Girardeau).\--With assistance from Richard Weiss and Andrew Noël.To contact the reporters on this story: Jef Feeley in Wilmington, Delaware at jfeeley@bloomberg.net;Tim Bross in St. Louis at btbross@gmail.com;Tim Loh in Munich at tloh16@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Thomas MulierFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    U.S. peach grower awarded $265 million from Bayer, BASF in weedkiller lawsuit

    A jury in U.S. District Court in Cape Girardeau, Missouri, handed Bader, the state's largest peach farmer, $15 million in actual and $250 million in punitive damages. The three-week trial was the first case in the United States to rule on the use of dicamba-based herbicides alleged to have damaged tens of thousands of acres of U.S. cropland. The herbicide can become a vapour and drift for miles when used in certain weather, farmers have claimed.

  • Bayer considers new tactic in Roundup settlement talks
    Reuters

    Bayer considers new tactic in Roundup settlement talks

    Bayer has said it is engaged in mediation to resolve the litigation, which has hit its share price since it acquired Roundup as part of its $63 billion takeover of Monsanto in 2018. The person said that Bayer believes an agreement with plaintiffs' attorneys to ban advertising would limit the company's future legal exposure since the "vast majority" of U.S. law firms that would bring such claims would be bound by the agreement. Bayer declined to comment.

  • Factbox: Bayer faces lengthy Roundup appeals and settlement talks continue
    Reuters

    Factbox: Bayer faces lengthy Roundup appeals and settlement talks continue

    Bayer, which acquired Roundup maker Monsanto for $63 billion in 2018, denies the allegations, saying decades of studies and regulatory approvals have shown glyphosate and Roundup to be safe for human use. Bayer has appealed or vowed to appeal all verdicts against it, but said the litigation will take some time to conclude as no case has been subject to appellate review to assess key legal rulings in the trials. Bayer in late April 2019 asked the appeals court to throw out the judgment, saying there was "no evidence" glyphosate could cause cancer.

  • U.S. EPA reaffirms that glyphosate does not cause cancer
    Reuters

    U.S. EPA reaffirms that glyphosate does not cause cancer

    The U.S. Environmental Protection Agency said on Thursday it finished a regulatory review that found glyphosate, the most widely used weed killer in the United States, is not a carcinogen. The conclusion reaffirms the agency's stance on glyphosate, the key ingredient in Bayer AG's Roundup, despite judgments by U.S. juries that have found that use of the weedkiller was responsible for plaintiffs' cancer in some trials. "EPA has concluded that there are no risks of concern to human health when glyphosate is used according to the label and that it is not a carcinogen," the agency said in a statement.

  • What are the obstacles to Bayer settling Roundup lawsuits?
    Reuters

    What are the obstacles to Bayer settling Roundup lawsuits?

    More than 42,700 plaintiffs claim Roundup causes a type of cancer called non-Hodgkin's lymphoma. Bayer to date has lost three U.S. jury trials in the Roundup litigation. The company is appealing or has vowed to appeal the decisions, saying Roundup and its active ingredient glyphosate are not carcinogenic and safe for human use.

  • Bayer considering stopping sales of glyphosate to private users: newspaper
    Reuters

    Bayer considering stopping sales of glyphosate to private users: newspaper

    Bayer is considering stopping sales of the weedkiller glyphosate to private users who apply it in their gardens, German newspaper Handelsblatt reported on Thursday, citing financial and corporate sources. The plaintiffs blame Bayer's glyphosate-based weedkillers for their cancer. Bayer was not immediately available for comment.

  • Bayer considering stopping sales of glyphosate to private users - newspaper
    Reuters

    Bayer considering stopping sales of glyphosate to private users - newspaper

    Bayer is considering stopping sales of the weedkiller glyphosate to private users who apply it in their gardens, German newspaper Handelsblatt reported on Thursday, citing financial and corporate sources. The plaintiffs blame Bayer's glyphosate-based weedkillers for their cancer. Bayer was not immediately available for comment.

  • Reuters

    Bayer Roundup cancer trial postponed to continue settlement talks

    The fourth jury trial in the Roundup litigation was scheduled to begin in St. Louis on Friday morning, but never got underway as lawyers for the company and the cancer patients sat down to discuss a hold of the trial. St. Louis is the hometown of Roundup-maker Monsanto, a unit Bayer acquired in a $63 billion (48 billion pounds) deal in 2018. Three consecutive juries previously found the company liable for causing cancer with damages of tens of millions of dollars awarded to each plaintiff.

  • Bayer faces fourth U.S. Roundup cancer trial in Monsanto's hometown
    Reuters

    Bayer faces fourth U.S. Roundup cancer trial in Monsanto's hometown

    The lawsuit marks the first multi-plaintiff trial in the litigation over whether glyphosate, Roundup's active ingredient, is carcinogenic, and is the first trial outside of California. It is being held in St. Louis, where Monsanto was headquartered before Bayer bought the company in a $63 billion deal in 2018. Three consecutive juries found the company liable for causing cancer with damages of tens of millions of dollars awarded to each plaintiff.

  • Bayer Discusses Settling Roundup Claims for $10 Billion
    Bloomberg

    Bayer Discusses Settling Roundup Claims for $10 Billion

    (Bloomberg) -- In an effort to settle tens of thousands of claims that Bayer AG’s Roundup weedkiller causes cancer, lawyers for some plaintiffs are discussing with the company deals that could lead to a total payout of about $10 billion, according to people with direct knowledge of the negotiations.In some discussions, Bayer’s lawyers have said the chemical maker will set aside $8 billion to resolve current cases and reserve $2 billion for future claims, the five people said. Roundup has been blamed for ailments including non-Hodgkin’s lymphoma, which can take years to diagnose. Bayer declined to comment on the numbers or any terms under negotiation.Bayer shares rose as much as 3.9% Friday in Frankfurt, the most since October. They’re still down about 23% since the company acquired agricultural giant Monsanto Co. for $63 billion, giving it Roundup. The collapse has wiped about $18 billion off Bayer’s market value.If a settlement of the litigation costs Bayer $10 billion, its shares could rise quickly to 90 euros from the current level of about 76 euros, Markus Mayer of Baader Bank said by email Friday morning.To be sure, the $10 billion figure isn’t final and could change as talks continue, said the people, who asked not to be identified because they weren’t authorized to speak publicly about the discussions.Ken Feinberg, the lead mediator for the cases, has indicated deals resolving as many as 85,000 Roundup claims in the U.S. may be reached within a month. Feinberg said he’s unaware of the numbers being discussed in settlement talks. The talks are taking place between company lawyers and separate groups of plaintiffs’ attorneys, each with a sizable inventory of cases.While Feinberg said in an email he remains optimistic, “any details about what may constitute a comprehensive agreement are pure speculation as to both dollars and eligibility criteria.”Chris Loder, a U.S.-based spokesman for the company, has said the figure cited by Feinberg is “a speculative estimate” that includes “potential plaintiffs” who haven’t filed court complaints and that “the number of served cases as reported on a quarterly basis remains significantly below 50,000.”“The mediation process is continuing diligently and in good faith to explore resolution under the auspices of Ken Feinberg,” Loder said Thursday. “There is also no certainty or timetable for a comprehensive resolution.”Read More: Bayer’s Roundup Challenge Is to Avoid Another ‘Nuclear’ Jury VerdictRoundup claims have surged since a trio of jury verdicts awarded plaintiffs almost $2.5 billion, increasing pressure on Bayer to settle. While several trials due to start this month have been postponed to give more time for negotiations, cases in Missouri and California got underway this week. Bayer is appealing the earlier verdicts, which judges have already slashed to $191 million.Analyst estimates vary on how much a deal could cost. Bloomberg Intelligence analyst Holly Froum said this week it could take $10 billion to $13 billion. Thomas Claps, a litigation analyst with Susquehanna Financial Group, forecast $4.5 billion to $6.5 billion.Read More:Bayer CEO Opens Door to Roundup Settlement as Lawsuits SwellBayer Roundup Mediator Is ‘Optimistic’ With Talks Heating UpBayer Roundup Deal Is Close as Claims Surge, Mediator SaysThe St. Louis case, involving claims by four former Roundup users, is the first to be tried outside California. The city is regarded as a plaintiff-friendly venue -- a jury there awarded more than 20 women $4.7 billion in 2018 over claims Johnson & Johnson’s baby powder gave them cancer. J&J has appealed.Bayer has steadfastly maintained that glyphosate, the active ingredient in Roundup, is not a carcinogen. The U.S. Environmental Protection Agency concluded it doesn’t require a cancer warning, something state regulators had advocated. But plaintiffs point to other research that shows glyphosate can cause non-Hodgkin’s lymphoma and multiple myeloma.Feinberg, who was appointed in May to lead the settlement talks, has asked retired judges to serve as mediators in direct negotiations between Bayer’s attorneys and groups of plaintiffs’ lawyers, the people said. The strategy could produce a lower total settlement cost for Bayer than had it continued to seek a formal, global deal.But the company will need to make sure to address all claims as it would still have to fight the remainder in court, said Perry Weitz, a New York-based plaintiffs attorney whose firm is involved in the two trials underway. He declined to comment on any figures being discussed in the settlement talks.Defense attorneys have told plaintiffs’ lawyers Bayer won’t settle wrongful-death claims that are more than 10 years old and only will settle claims of non-Hodgkin’s lymphoma, according to a summary of the company’s settlement criteria seen by Bloomberg News. Some Roundup users are blaming their multiple myeloma cancers on the product.Some of Bayer’s lawyers also warned the company is prepared to put Monsanto into bankruptcy to deal with the wave of Roundup suits if it feels reasonable deals can’t be reached, people have said. Other companies faced with crippling litigation -- such as Purdue Pharma LP -- have taken that path.The case is In re: Roundup Products Liability Litigation, MDL 2741, U.S. District Court, Northern District of California (San Francisco).(Updates with number of served cases in eighth paragraph)To contact the reporters on this story: Jef Feeley in Wilmington, Delaware at jfeeley@bloomberg.net;Tim Loh in Munich at tloh16@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, ;Eric Pfanner at epfanner1@bloomberg.net, John Lauerman, Anne PollakFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bayer could be close to Roundup settlement, mediator says
    Reuters

    Bayer could be close to Roundup settlement, mediator says

    Feinberg said the settlement negotiations were complex and difficult. Feinberg declined to discuss terms of the possible settlement, but told Reuters the group of plaintiffs' lawyers involved in the negotiations had been expanded, suggesting a potential wide-ranging settlement.

  • Bayer shares up 3.5% after U.S. government's backing in glyphosate lawsuit
    Reuters

    Bayer shares up 3.5% after U.S. government's backing in glyphosate lawsuit

    Bayer shares rose as much as 3.5% on Monday, reaching their highest level in 14 months, after the United States government said that a $25 million glyphosate decision against the company should be reversed. The U.S. Environmental Protection Agency and the Justice Department on Friday said in a friend of the court brief a federal appeals court should reverse a lower court verdict finding the company liable in the case of a man who blamed the weed killer by Bayer's U.S. unit Monsanto for his cancer. Bayer denies its Roundup weed killer causes cancer.

  • U.S. government says verdict in Bayer's Roundup case should be reversed
    Reuters

    U.S. government says verdict in Bayer's Roundup case should be reversed

    The government said in a friend of the court brief filed on Friday that glyphosate, the weed killer's active ingredient, is not a carcinogen and as a result a warning on the label was not required as California state law demands. The backing by the EPA and Justice Department comes days after Bayer asked a U.S. federal appeals court to throw out a $25 million judgment it was ordered to pay Edwin Hardeman.

  • Bayer asks U.S. appeals court to reverse $25 million Roundup verdict
    Reuters

    Bayer asks U.S. appeals court to reverse $25 million Roundup verdict

    In a filing in the U.S. Court of Appeals for the 9th Circuit dated Friday, Bayer said the verdict defied regulatory findings and sound science, adding that the "speculative case" should never have made it before a jury. Bayer in a statement said it stood behind the safety of Roundup and its active ingredient glyphosate and planned to vigorously defend the more than 42,700 U.S. Roundup cancer lawsuits it faces. In its court filing, Bayer said the Hardeman appeal had the potential to shape how every subsequent Roundup case is litigated.

  • Bayer reaches agreement to postpone more glyphosate lawsuits for settlement talks
    Reuters

    Bayer reaches agreement to postpone more glyphosate lawsuits for settlement talks

    Germany's Bayer has agreed with plaintiffs to postpone its next two U.S. lawsuits over the alleged cancer-causing effects of its glyphosate-based weed killers to allow more time for talks on a settlement. The company, which is facing 42,700 U.S. plaintiffs, is widely expected to eventually buy itself out of the litigation, with analysts currently estimating the size of a future settlement at $8-$12 billion. Bayer agreed with the plaintiff to delay for about six months a case in the California Superior Court for Lake County scheduled for Jan. 15, a company spokesman said in a written statement.

  • Bayer's Monsanto pleads guilty to illegal Hawaii pesticide spraying
    Reuters

    Bayer's Monsanto pleads guilty to illegal Hawaii pesticide spraying

    The Department of Justice said late Thursday that Monsanto sprayed Penncap-M, which contained the banned pesticide methyl parathion, on research crops in 2014, despite knowing that the Environmental Protection Agency prohibited its use after 2013. It also said Monsanto, now part of Germany's Bayer AG, admitted it let employees enter the sprayed fields after seven days despite knowing it should have waited 31 days.

By using Yahoo, you agree that we and our partners can use cookies for purposes such as customising content and advertising. See our Privacy Policy to learn more