Bayer gets preliminary approval for weedkiller class settlement [Yahoo! Finance]
BAYER AG S/ADR (BAYRY)
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Source: Yahoo! Finance
Tobias SCHWARZ/AFP/AFP German agrichemical giant Bayer said Wednesday that a US judge had granted preliminary approval for a multi-billion-dollar class settlement proposed by its subsidiary Monsanto over claims the Roundup weedkiller causes blood cancer. Bayer announced last month that Monsanto had put forward the settlement of up $7.25 billion, seeking to draw a line under years of costly litigation. Under the proposed agreement, Monsanto would make a series of declining annual payments for up to 21 years. Bayer has spent billions of dollars settling thousands of cases linked to Roundup since it acquired the weedkiller's producer, the US agrichemical group Monsanto, in 2018. The International Agency for Research on Cancer considers glyphosate, one of Roundup's ingredients, a probable human carcinogen, but Bayer says scientific studies and regulatory approvals show the weedkiller is safe. Announcing the latest development Wednesday, Bayer said a judge in Missouri had gran
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