Bayer Proposes $8 Billion To Settle Roundup Lawsuits Alleging Product Causes Cancer

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Bayer AG is reportedly proposing paying $8 billion to settle more than 18,000 lawsuits in the U.S. that allege its Roundup weed control contains carcinogens.

Sources close to discussions between Bayer and attorneys for the plaintiffs told Bloomberg News that the company has floated sums of anywhere from $6 billion to $8 billion to resolve the lawsuits, while attorneys for the plaintiffs are reportedly demanding at least $10 billion.

The $8 billion proposed by Bayer is reportedly less than some of the company’s investors had expected it to propose, according to Bloomberg, with experts saying that the settlement will likely end up being higher.

“$8 billion would be lower than most analysts are forecasting and many investors fearing,” Baader Helvea analyst Markus Mayer told the news outlet.

Read more at THE HILL.

{Matzav.com}

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