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Is Bayer finally heading for a Roundup deal? Its new legal team suggests so

June 28, 2019 / Angus Liu
SHARESHARESHARE

Bayer has said it intends to defend itself vigorously in thousands of lawsuits that claim its Roundup weedkiller causes cancer. But that harsh tone has softened, increasing the possibility that a settlement could be near. The German company has hired an independent lawyer to advise its supervisory board on the Roundup litigation and set up a special committee to oversee it. “The supervisory board recognizes the negative effect the litigation uncertainty has had on the stock price and stakeholder perception and is determined to help the company decisively but prudently advance the matter,” Bayer said in a statement. Besides the ongoing litigation, it also “looks forward to constructively engaging in the mediation process,” the company said. Investors soon applauded the moves, sending Bayer’s stock in Frankfurt up 8.7% Wednesday, which marked its biggest daily gain in a decade, Reuters reported. The steps are widely interpreted as a sign that a settlement co...