Bayer sticks to $2 billion provisions taken for class plan

Bayer (DE:BAYGN) said on Thursday it was not making any changes to the $2 billion in provisions it took for a class action plan to settle future claims related to its Roundup and other glyphosate-based weedkillers in 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 said in a speech published online.

“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.