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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayer AG    BAYN   DE000BAY0017


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Bayer : Shares Slump After Judge Questions Settlement

07/07/2020 | 06:54am EST

By Jessica Sier

Bayer AG shares slumped Tuesday after a U.S. judge questioned part of the company's recent multibillion-dollar settlement over its glyphosate-based weed killer Roundup.

Californian Judge Vince Chhabria, who is responsible for settling future damages claims, expressed concern about the appropriateness of the settlement that the German chemical company agreed to in late June.

"The Court is skeptical of the propriety and fairness of the proposed settlement, and is tentatively inclined to deny the motion," the judge said, according to a filing published Monday evening.

At 1027 GMT, Bayer shares were down 6.9% at EUR62.43, the largest decline in Germany's DAX index.

Bayer has been hounded by the glyposate-based product since it took over U.S. agrichemicals company Monsanto in 2018, an acquisition that included Roundup and thousands of related lawsuits. Uncertainty over how the litigation issue would be resolved was alleviated in late June when the company struck a $10.9 billion settlement deal in the U.S.

As part of the settlement, it was agreed that for potential future cases a scientific panel would decide whether Bayer's product actually causes non-Hodgkin's lymphoma.

However, Judge Chhabria expressed doubts as to whether it was right to take this question out of the courts and delegate it to scientists, among other issues.

Bayer said it appreciates the judge raising his preliminary concerns.

"We take [this] seriously and will address at the preliminary approval hearing on July 24," the company said in a statement.


Write to Jessica Sier at jessica.sier@wsj.com


Stocks mentioned in the article
ChangeLast1st jan.
BAYER AG -0.91% 52.36 Delayed Quote.8.73%
DAX -0.24% 13873.97 Delayed Quote.1.13%
All news about BAYER AG
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Sales 2020 41 978 M 51 084 M 51 084 M
Net income 2020 -10 184 M -12 392 M -12 392 M
Net Debt 2020 33 823 M 41 159 M 41 159 M
P/E ratio 2020 -4,22x
Yield 2020 4,21%
Capitalization 51 440 M 62 617 M 62 597 M
EV / Sales 2020 2,03x
EV / Sales 2021 2,02x
Nbr of Employees 100 618
Free-Float 100,0%
Duration : Period :
Bayer AG Technical Analysis Chart | BAYN | DE000BAY0017 | MarketScreener
Technical analysis trends BAYER AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 61,10 €
Last Close Price 52,36 €
Spread / Highest target 62,3%
Spread / Average Target 16,7%
Spread / Lowest Target -12,1%
EPS Revisions
Managers and Directors
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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