May 23, 2016, Bayer Pounces on Monsanto
Sept. 14, 2016, Deal Is Clinched
After bumping its offer price, Leverkusen, Germany-based Bayer secured a
Dec. 1, 2017, First U.S. Nod
The transaction started off well. The Committee on Foreign Investment in the U.S. had taken a long, hard look at China’s acquisition of Switzerland’s Syngenta on national security grounds. By contrast, Bayer sailed through its review unscathed.
April 26, 2018, Bayer Forced to Sell Prize Assets
Antitrust regulators insisted that Bayer sell chunks of its existing agro-chemical and seed businesses worth 7.6 billion euros ($8.6 billion) in return for approval. Germany’s
May 29, 2018, Last Regulatory Hurdle Clears
U.S. antitrust regulators became the last major authority to
Aug. 10, 2018, First Legal Cracks Appear
Just two months after Bayer clinched the deal, a court in California ruled in favor of a former school groundskeeper who alleged Monsanto’s glyphosate-based weedkillers, including the flagship Roundup brand, had been the cause of his cancer. The
March 27, 2019, Bayer Loses Second Trial
Another Roundup setback took place when a federal court awarded compensation and punitive damages totaling more than $80 million to a 70-year-old California man who became ill after spraying the herbicide on his property for decades. Bayer again vowed to “vigorously defend” Roundup, but it was an ominous sign, ramping up the pressure to settle.
April 26, 2019, Bombshell at Bayer Meeting
A bruising moment at Bayer’s annual shareholder meeting, when Baumann and other managers
May 13, 2019, Another Trial Loss
In the third U.S. trial to make it to court, a Californian couple who had been using Roundup for three decades were awarded $2 billion in damages, bringing Bayer’s shares down more than 40% since the deal was cemented. The company called the ruling “unjustifiable.” It’s appealing all three lost suits.
July 30, 2019, Lawsuits Skyrocket
With the number of glyphosate lawsuits swelling to about 18,400 in the U.S., Baumann said he’d consider a “financially reasonable”
March 23, 2020, Bayer Stock Hits Rock Bottom
With mounting lawsuits, Bayer shares reach 47.50 euros, the lowest level in almost eight years. Estimates for the cost of damages vary, with some pegging it as high as $20 billion. Like Volkswagen AG’s fines for cheating on diesel emission tests in 2017, glyphosate was fast becoming a painful blow to another icon of German industry.
June 24, 2020, Settlement Announced
The company agreed to make a payment of
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