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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017

BAYER AG

(BAYN)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/21 07:02:32 am
43.123 EUR   -1.14%
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Bayer settles thousands of U.S. Roundup cases with trial attorneys

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09/15/2020 | 11:57am EDT

Sept 15 (Reuters) - Bayer AG has settled thousands of U.S. Roundup weed killer lawsuits as part of an $11 billion settlement, reaching deals with the only lawyers who took cases to trial over allegations the herbicide caused cancer.

In letters filed with U.S. District Court in San Francisco late on Monday, three lawyers said they had reached binding settlements of their cases.

The settlements covered 15,000 lawsuits, according to an attorney familiar with the talks. Bayer has estimated it faces 125,000 filed and unfiled claims over Roundup.

Bayer did not immediately respond to a request for comment.

The terms of the settlements were not disclosed in the letters filed by plaintiffs' attorneys Brent Wisner, Jennifer Moore and Aimee Wagstaff. As a result of the agreements, all law firms that have taken cases to trial have settled with Bayer.

Wisner and Wagstaff are members of the executive committee of attorneys who are leading the class action against Bayer.

Shares of Bayer rose about 2.8% at 56.83 euros on Tuesday.

In August, Bayer's stock fell 3% after it said there were "bumps" in talks to seal the $11 billion settlement of the Roundup cases and the judge overseeing the case, Vince Chhabria, threatened to restart the litigation.

Bayer in June struck an agreement on about 75% of the 125,000 claims stemming from its $63 billion takeover of seed and chemical company Monsanto in 2018.

Chhabria raised concerns in July over the plan to create an independent panel of scientists to assess whether glyphosate-based weedkillers such as Roundup caused cancer, delaying a key part of the proposed settlement.

The parties are expected to return to Chhabria's court on Sept. 24 to discuss next steps. (Reporting by Tom Hals in Wilmington, Delaware; Editing by David Gregorio)


Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -1.16% 43.105 Delayed Quote.-40.09%
LONDON BRENT OIL -0.77% 42.56 Delayed Quote.-35.68%
WTI -0.85% 41.04 Delayed Quote.-32.53%
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Financials
Sales 2020 42 941 M 50 884 M 50 884 M
Net income 2020 -5 432 M -6 437 M -6 437 M
Net Debt 2020 32 433 M 38 432 M 38 432 M
P/E ratio 2020 -6,57x
Yield 2020 5,59%
Capitalization 42 853 M 50 690 M 50 780 M
EV / Sales 2020 1,75x
EV / Sales 2021 1,71x
Nbr of Employees 101 168
Free-Float 100,0%
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Technical analysis trends BAYER AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 67,30 €
Last Close Price 43,62 €
Spread / Highest target 111%
Spread / Average Target 54,3%
Spread / Lowest Target 5,46%
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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