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Bayer mediator dismisses report of US$8 milliard Roundup settlement

14.08.2019 11:14 "Agro Perspectiva" (Kyiv) Bayer AG has not offered to pay milliards of dollars to settle claims within the United States related to the Roundup herbicide, Reuters says referring to the mediator Ken Feinberg last week report. It is to be admitted, Feinbark has also dismissed a report to that effect which drove its shares as much as 11% higher. «Bayer has not proposed paying US$8 milliard to settle all the US Roundup cancer claims. Such a statement is pure fiction. Compensation has not even been discussed within the global mediation discussions,» he said. It is to be admitted, the Bayer shares, which had shed some of their gains before Feinberg statement, retreated further and closed up 1.7% at EUR64.63. Bayer, which acquired Roundup and other glyphosate-based weedkillers as part of its US$63 milliard takeover of Monsanto last year, declined comment on the initial Bloomberg news report and on Feinbergs response. It is to be noted, as of last week, Bayer Chief Executive Werner Baumann said the company would consider settling with US plaintiffs only on reasonable terms, and if it «achieves finality of the overall litigation». It is to be reminded, the Bayer shares have lost more than a third of their value, or roughly EUR30 milliard (US$34 milliard), since last year Aug when a California jury in the first such lawsuit had found Monsanto should have warned of the alleged cancer risks from Roundup.

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14.08.2019
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