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Bayer sticks to $2 billion provisions taken for class plan By Reuters

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© Reuters. FILE PHOTO: Bayer unit Monsanto Co’s Roundup is proven for sale in Encinitas, California, U.S., June 26, 2017. REUTERS/Mike Blake

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BERLIN (Reuters) – Bayer (OTC:) stated on Thursday it was not making any modifications to the $2 billion in provisions it took for a class motion plan to settle future claims associated to its Roundup and different glyphosate-based weedkillers within the U.S.

“We are determined to resolve the Roundup litigation and minimise the risk to our company from the existing and potential future lawsuits,” Bayer Chief Executive Werner Baumann stated in a speech printed on-line.

“We remain open to settlement negotiations on the remaining lawsuits, as long as the terms are reasonable. However, we will review this approach in the future,” he added.

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