Bayer acknowledged for the first time that lawsuits related to the controversial weed killer Roundup may force it to sell assets, issue new equity or borrow money at unfavorable terms.“We may incur considerable financial disadvantages from the pending lawsuits or potential future cases if, for example, we are ordered to pay compensatory and possibly punitive damages,” Bayer said in its annual report, “or if we assume payment obligations under out-of-court settlements.”It’s unlikely Bayer will have to raise a large amount of money to handle a possible resolution, Chief Financial Officer Wolfgang Nickl said in an interview Thursday.Bayer inherited the mountain of litigation in its $63 billion takeover of Monsanto two years ago, which has battered its share price and led investors to question the acquisition’s rationale.
Comment on Roundup woes may force Bayer to sell assets or borrow
Bloomberg News, The Gazette (Cedar Rapids)
Thu, 02/27/2020 - 11:24am
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