Biotech giant Bayer is expected to settle thousands of lawsuits alleging its Roundup weedkiller causes cancer the week of June 22, sources close to the negotiations have said. Please read Is glyphosate (Roundup) dangerous? to learn more about the litigation and controversy surrounding the herbicide.
German business daily Handelsblatt earlier on [June 23] reported a deal was imminent, with Bayer pledging $8-$10 billion to settle the claims, including a $2 billion buffer for future cases.
After more than a year of talks, however, some details and the overall amount of the settlement have yet to be finalized, one of the sources said on condition of anonymity.
The company’s supervisory board was due to discuss and vote on the settlement in the coming days, Handelsblatt cited company and negotiating partner sources as saying.