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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

(BAYN)
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Delayed Quote. Delayed Xetra - 10/30 12:35:06 pm
40.36 EUR   -1.04%
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Bayer : resolves more Roundup cases, judge keeps pause on litigation

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09/24/2020 | 11:19pm EDT
FILE PHOTO: FILE PHOTO: Bayer's Roundup shown for sale in California

Attorneys for Bayer AG and consumers suing the company over allegations its Roundup weedkiller caused cancer told a judge on Thursday they are continuing to resolve thousands more cases, improving prospects for its $11 billion deal to end the litigation.

The hearing was a contrast to the contentious tone among the parties last month that raised concerns the framework deal might unravel.

Ken Feinberg, who is mediating talks, said his "optimism knows no bounds," and that he expected the next set of cases scheduled for trial to soon settle.

U.S. District Judge Vince Chhabria in San Francisco kept a stay on litigation until Nov. 2 and asked the parties for a status update at that time.

The parties have binding deals to resolve about 45,000 of the 125,000 filed and unfiled claims, according to attorneys involved. Settlements have been reached with each of the lawyers who took cases to trial.

Bayer, which acquired Roundup with its purchase of Monsanto for $63 billion in 2018, agreed in June to pay around $11 billion to settle the lawsuits, which have pummeled the company's share price.

Bayer's stock closed down 1% on Thursday at 54.41 euros. Shares have slumped from a high of around 73 euros since the June settlement announcement.

Chhabria had questioned the fairness of the settlement plan, which proposed using an independent scientific panel to assess whether glyphosate-based weedkillers such as Roundup caused cancer.

Days later, Bayer said it would revise that part of the proposal.

Bayer has said Roundup is safe and important to farmers who use the herbicide in combination with the company's genetically modified seeds.

In 2015, the World Health Organization's cancer research arm determined the herbicide to be a "probable carcinogen." U.S. and the European regulators have determined glyphosate to be non-carcinogenic.

By Tom Hals


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Financials
Sales 2020 42 900 M 49 957 M 49 957 M
Net income 2020 -4 936 M -5 748 M -5 748 M
Net Debt 2020 32 544 M 37 897 M 37 897 M
P/E ratio 2020 -5,99x
Yield 2020 5,94%
Capitalization 39 651 M 46 207 M 46 173 M
EV / Sales 2020 1,68x
EV / Sales 2021 1,64x
Nbr of Employees 101 168
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 66,53 €
Last Close Price 40,36 €
Spread / Highest target 128%
Spread / Average Target 64,8%
Spread / Lowest Target 14,0%
EPS Revisions
Managers
NameTitle
Werner Baumann Chairman-Management Board
Norbert Winkeljohann Chairman-Supervisory Board
Wolfgang U. Nickl Chief Financial Officer
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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