Bayer is proposing to pay as much as $8 billion to settle more than 18,000 U.S. lawsuits alleging its Roundup herbicide causes cancer.
An agreement, which could take months to work out, would ease investor pressure over massive litigation exposure the German drug and chemical giant took on with its purchase of the weedkiller’s maker, Monsanto Co. The fallout has erased more than $30 billion in market value, prompted an unprecedented shareholder vote of no confidence in the company’s management and fueled speculation about a breakup.
The negotiations have advanced to the point that Bayer and plaintiffs’ lawyers asked two judges in St. Louis to push back cases set for trial starting soon, the people said.
“If they can get out of this for under $10 billion after losing three in a row — with big awards assessed — it would be a great deal for Bayer,” Tobias said. “They lose a couple of more big ones in St. Louis and settlement demand could balloon to $20 billion.”
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