German pharmaceutical company Bayer offered Monsanto a 62-billion US-dollar takeover bid - a record sum in German business history. Monsanto says the offer is too low, but rumors of a potential deal have got the entire industry abuzz.
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The pharmaceutical giant has been left reeling in the wake of US lawsuits claiming its weedkiller causes cancer, posting multi-billion euro losses as a result.
The German chemical giant is battling thousands of lawsuits in the US arising from its takeover of rival Monsanto. Despite reaching a settlement in June, Bayer has admitted there are "bumps in the road."
The German company has agreed to settle nearly 100,000 lawsuits alleging its Roundup herbicide causes cancer. While the deal is a major relief for Bayer, will it be enough to end the company's Monsanto nightmare?
US plaintiffs are pursuing the German giant over claims its glyphosate-based weed killers cause cancer. Talks have been ongoing for more than a year.
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