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    BAYN   DE000BAY0017

BAYER AG

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Bayer to Set Aside $4.5 Billion in Provisions for Roundup Case; To Petition US Supreme Court for Review

07/29/2021 | 07:54am EDT

By Cecilia Butini

Bayer AG said Thursday that it would set aside $4.5 billion in further provisions to end litigation around its Roundup weedkiller in the event of an unfavorable U.S. Supreme Court ruling related to a claim in which Bayer appealed and lost.

The German conglomerate said it is preparing for a possible unfavorable Supreme Court ruling, in which the court declines to hear the case or rules in favor of the plaintiff, a California resident named Edwin Hardeman who claimed that his lymphoma was caused by Roundup.

The company said, however, that it sees good chances that the court will issue a favorable decision, effectively ending litigation around Roundup.

Bayer will file a petition to the Supreme Court seeking review of the Hardeman case in August, it said, adding that it won't entertain any discussions on further settlements when and if the court grants review.

In the event of a negative Supreme Court outcome, the company said it will set up a claims administration program that will come up with pre-determined compensation values.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

07-29-21 0954ET

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Financials
Sales 2021 42 596 M 49 769 M 49 769 M
Net income 2021 860 M 1 005 M 1 005 M
Net Debt 2021 39 369 M 45 999 M 45 999 M
P/E ratio 2021 27,8x
Yield 2021 4,34%
Capitalization 46 090 M 53 831 M 53 852 M
EV / Sales 2021 2,01x
EV / Sales 2022 1,91x
Nbr of Employees 99 439
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 46,92 €
Average target price 62,45 €
Spread / Average Target 33,1%
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Managers and Directors
Werner Baumann Chairman-Management Board & CEO
Wolfgang U. Nickl Chief Financial Officer
Norbert Winkeljohann Chairman-Supervisory Board
Bijoy Sagar Chief Information Technology Officer
Paul Achleitner Member-Supervisory Board
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