June 24, 2020 / 5:19 PM / 13 days ago

BRIEF-Bayer settles Roundup litigation for a total of up to $10.9 bln

June 24 (Reuters) - Bayer AG:

* BAYER AG HAS SETTLED 95,000 U.S. ROUNDUP CANCER LAWSUITS FOR $10-$11 BILLION - SOURCE

* BAYER AG - WILL PAY $10.1 BILLION TO $10.9 BILLION (9.1 BILLION EUROS TO 9.8 BILLION EUROS) TO RESOLVE CURRENT AND ADDRESS POTENTIAL FUTURE ROUNDUP LITIGATION

* BAYER - RESOLUTION THAT WILL BRING CLOSURE TO APPROXIMATELY 75% OF THE CURRENT ROUNDUP LITIGATION INVOLVING APPROXIMATELY 125,000 FILED AND UNFILED CLAIMS OVERALL

* BAYER - WILL PAY $8.8 BILLION TO $9.6 BILLION TO RESOLVE CURRENT ROUNDUP LITIGATION, INCLUDING ALLOWANCE EXPECTED TO COVER UNRESOLVED CLAIMS

* BAYER - WILL PAY $1.25 BILLION TO SUPPORT A SEPARATE CLASS AGREEMENT TO ADDRESS POTENTIAL FUTURE LITIGATION

* BAYER WILL CONTINUE SELLING ROUNDUP AND WILL NOT ADD A CANCER WARNING LABEL TO THE PRODUCT - COMPANY SPOKESMAN

* BAYER-EXPECTS TO KEEP INVESTMENT GRADE CREDIT RATINGS, INTENDS TO KEEP DIVIDEND POLICY

* BAYER-DELEVERAGING THE BALANCE SHEET REMAINS A HIGH PRIORITY

* 25,000 ROUNDUP CANCER CLAIMS REMAIN UNSETTLED, BUT AGREEMENT EXPECTED WITHIN THE COMING MONTHS, COURT-APPOINTED MEDIATOR FEINBERG SAYS

* THERE WILL BE NO FURTHER TRIALS IN THE ROUNDUP LITIGATION - FEINBERG

* ALL THE LEADING TRIAL LAWYERS HAVE SETTLED THEIR CASES - FEINBERG Source text for Eikon: Further company coverage:

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