BAYRY - Bayer Aktiengesellschaft

Other OTC - Other OTC Delayed Price. Currency in USD
17.10
-0.13 (-0.76%)
At close: 3:59PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close17.23
Open17.24
Bid0.00 x 0
Ask0.00 x 0
Day's Range16.82 - 17.24
52 Week Range12.55 - 21.59
Volume1,821,874
Avg. Volume784,057
Market Cap67.626B
Beta (5Y Monthly)1.29
PE Ratio (TTM)9.27
EPS (TTM)1.84
Earnings DateN/A
Forward Dividend & Yield0.76 (4.43%)
Ex-Dividend DateApr 29, 2020
1y Target Est26.10
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Bayer Reaches Deals on Big Share of 125,000 Roundup Weedkiller Suits
    Bloomberg

    Bayer Reaches Deals on Big Share of 125,000 Roundup Weedkiller Suits

    (Bloomberg) -- Bayer AG has reached verbal agreements to resolve a substantial portion of an estimated 125,000 U.S. cancer lawsuits over use of its Roundup weedkiller, according to people familiar with the negotiations.The deals, which have yet to be signed and cover an estimated 50,000 to 85,000 suits, are part of a $10 billion Bayer plan to end a costly legal battle the company inherited when it acquired Monsanto in 2018, the people said. While some lawyers are still holding out, payouts for settled cases will range from a few million dollars to a few thousand each, said the people, who asked not to be identified because they aren’t authorized to speak publicly.Bayer is likely to announce the settlements, which need approval from the supervisory board, in June, people familiar with the negotiations said. None of the deals are signed, though plaintiffs’ lawyers are expected to do so the day of the announcement, the people said.The shares gained as much as 8.2% as of 11:10 a.m. Monday in Frankfurt trading.Getting past the Roundup drama is a top priority for Chief Executive Officer Werner Baumann, who orchestrated the $63 billion Monsanto takeover and has suffered the legal consequences ever since. The surge of Roundup claims, along with three big U.S. court losses, hammered the company’s stock, wiping tens of billions of dollars from the market value and prompting shareholders to issue Baumann an unprecedented rebuke last spring.But since last summer, the CEO has kept the company out of more jury trials while engaging in high-stakes mediation talks. Last month, he won the annual confidence vote from 93% of shareholders amid signs that Bayer might soon reach a resolution.“A settlement of all U.S. lawsuits for $10 billion should be a major share price trigger for Bayer,” Markus Mayer, an analyst at Baader Bank, said Monday by email.Once a resolution is in place, Baumann will have to prove that his strategy of pairing pharmaceuticals, consumer health and agriculture makes sense. Some investors have doubts about the approach.Bayer declined to comment on specifics about the talks. Chris Loder, a U.S.-based spokesman, said Friday the company has made “progress in the mediations” that arose from lawsuits. “The company will not speculate about settlement outcomes or timing,” Loder said in an emailed statement. “As we have said previously, the company will consider a resolution if it is financially reasonable and provides a process to resolve potential future litigation.”Read More: Bayer’s Roundup Challenge Is to Avoid ‘Nuclear’ Jury AwardsWhile the exact number of settlements so far wasn’t immediately clear, the estimate of at least 125,000 claims is more than twice the amount of Roundup litigation cases Bayer has previously disclosed. The company has only acknowledged filed and served cases of about 52,500 as of April. Tens of thousands more are being held in abeyance by plaintiffs’ lawyers under agreements with Bayer, people familiar with the negotiations said. Ken Feinberg, the chief Roundup mediator, said in January the total was 85,000 and would likely increase.Bayer has said it will earmark $8 billion to resolve all current cases, including those held in abeyance, according to some of the people familiar with the settlements. The deals so far involve many of the strongest claims against the company, the people said. It’s unclear how much would go to those who have now settled and what’s left for the holdouts. Another $2 billion will be set aside to cover future suits linking the weedkiller to non-Hodgkin’s lymphoma, people familiar with the talks said.Still Being SoldUnder terms of the deals, Roundup will continue to be sold in the U.S. for use in backyards and farms without any safety warning, and plaintiffs’ attorneys will agree to stop taking new cases or advertising for new clients, the people said. Because some of the Roundup cases are consolidated before U.S. District Judge Vince Chhabria in San Francisco, he may need to approve the settlement of those before him, the people said.To be sure, with tens of thousands of cases still unresolved, there’s no guarantee the company will remain within the $8 billion it has budgeted for filed and backlogged lawsuits. Bayer complicated matters last month by backing out of some deals and demanding lawyers take less because of losses tied to the Covid-19 pandemic. That could prompt more lawyers to take their cases out of the settlement, the people said.Feinberg, the Washington-based lawyer tapped by Chhabria to oversee settlement negotiations, said last week he remains “cautiously optimistic a national settlement will be reached.” He acknowledged fallout from Covid-19 “has slowed momentum” on the talks.Cancer ClaimsThe settlements are designed to resolve claims that Roundup, whose active ingredient is the chemical glyphosate, caused non-Hodgkin’s lymphoma in some users. The company denies that Roundup or glyphosate cause cancer, a position backed by the U.S. Environmental Protection Agency. Still, after Bayer’s court losses spurred a surge in new suits, investors such as Elliott Management Corp. urged the company to seek a comprehensive settlement.Feinberg dispatched mediators to oversee meetings between Bayer lawyers and individual plaintiff attorneys, who negotiated solely on behalf of their clients. The company has worked out various payout schedules, though none will exceed three years, the people said.At this point, only a handful of lawyers are holding out for larger payouts, the people said. James Onder, a St. Louis-based attorney handling more than 24,000 Roundup cases, said last week he’s rebuffed settlement offers that would leave his clients with as little as $5,000 each.Bayer’s overtures “have been insulting,” Onder said in an interview. The company is attempting “to strong-arm the most vulnerable in our society into accepting minuscule settlements, hoping they will cower in fear to Monsanto’s repeated idle threats of bankruptcy.” Onder said he’s preparing for trials in St. Louis next year.The people familiar with the talks have said Bayer lawyers used the threat of putting Monsanto into bankruptcy to get people to accept lower payments. Other companies -- including Purdue Pharma LP -- filed for Chapter 11 protection from creditors to deal with a burgeoning wave a lawsuits over its OxyContin opioid painkiller.Challenge VerdictsIn a surprising move, Bayer is also pressing ahead with appeals of early cases it lost in court, the people said. All together, juries from three trials ordered the company to pay a combined $2.4 billion in damages. Judges later slashed those awards to $191 million.The first Roundup verdict came from a state court jury in California, which held Monsanto liable for a grounds keeper’s lymphoma in 2018 and awarded him $289 million in damages. A judge later cut that to $78.5 million. Oral arguments in the appeal are scheduled for June 2 in San Francisco.Refusing to include past verdicts in the settlement may be designed to send a signal on future claims that Bayer won’t just roll over and pay, said Carl Tobias, a University of Richmond professor who specializes in mass-tort law.“It says they’ll fight ‘em through the appeals, which can take years to resolve,” Tobias said. “In the meantime, people will be dying.”The deals also limit eligibility for payments to non-Hodgkin’s Lymphoma cases and those where plaintiffs died of that specific cancer over the last decade, according to a Bayer term sheet reviewed in January by Bloomberg News. Roundup users that blame the product for causing their multiple-myeloma cancers get nothing under the settlement.The consolidated case is In re: Roundup Products Liability Litigation, MDL 2741, U.S. District Court, Northern District of California (San Francisco).(Updates shares, adds CEO background starting in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bayer says it makes progress in settlement talks over weedkiller
    Reuters

    Bayer says it makes progress in settlement talks over weedkiller

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    Creepy Technologies Invade European Workplaces

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Workplaces from banks and offices to e-commerce warehouses, factories, sports clubs and airports are trying out or installing fever-testing thermal cameras, mask-detection systems and tracking software to prevent a resurgence of the coronavirus that has claimed more than 167,000 lives in the region.The virus has opened the doors to surveillance and monitoring technologies that many fear are here to stay. While such systems have been creeping into people’s lives across the globe -- particularly in Asia, with China’s facial-recognition points system and South Korea’s invasive infection-tracking software -- the trend runs up against Europe’s much-vaunted privacy culture. Europeans trading in privacy for safety now may find the longer-term consequences unacceptable.“The use of mass surveillance infrastructures can lead to a normalization of these highly intrusive tools, and the hasty introduction of apps, devices and cameras will, in the long term, lead to a dissolution of trust between employers and employees,” said Ella Jakubowska, a researcher at internet rights association Edri.Businesses are walking a fine line between keeping people safe and protecting their privacy. The absence of clear guidance from European regulators is forcing companies -- who could also be on the hook if they don’t sufficiently protect workers -- to make “extremely difficult decisions,” according to Daniel Cooper, a partner at law firm Covington and Burling, who advises clients on tech regulation.“The exposure of companies collecting that information goes up because it’s sensitive,” Cooper said. “They also have to balance the privacy rights of the people whose data they’re collecting and get that balance right and not break the law.”About 23% of companies surveyed globally are considering workplace tracking or contact tracing to transition back to on-site work, according to a study published this month by tax and consulting firm PricewaterhouseCoopers, which is testing its own contact tracing tool in its Shanghai office.“As lockdown is lifted, the turn to contact tracing may add a whole new layer of data being accumulated about where we go and what we do,” Andrew Pakes, research director at U.K. Trade union Prospect, wrote in a blog post Tuesday, adding that “the worry in many quarters is that we could be sleepwalking into further surveillance without safeguards in place.”Providers of such monitoring technologies tout them as a safe way to get people back to work and revive economies crushed by lockdowns. While many acknowledge the systems aren’t foolproof, they say infection risk can be capped.“Our bracelets are tools to keep workers safe and to increase performance,” said John Baekelmans, the chief executive officer of Rombit, the Belgian company whose bracelets will add a tracing feature in June to allow Antwerp port doctors to keep track of a possible spread in the virus.Rombit sees the bracelets outlasting the virus as companies use them to track employees’ health and performance. The company says it will supply such devices to 300 companies in the coming weeks.Like Rombit, Krakow, Poland-based Estimote Inc. is selling social-distancing devices to factories, research centers and hospitals, which also let them trace contacts made by any infected staffer.The devices, attached to lanyards, buzz when workers have spent too much time near a colleague. Employees developing symptoms or testing positive can press a button on the gadget to notify the company, allowing it to trace all the people they’ve been in contact with.“It’s in our DNA to come close” to other people, said Estimote CEO Jakub Krzych, adding that the devices alert users to those habits, keeping the spread of the virus in check.Herta Security in Barcelona is developing both mask-detection technology and facial recognition for touch-less access in workplaces, including for a global retail company that’s considering using it in its offices in Europe and Latin America, according to Laura Blanc Pedregal, Herta’s Chief Marketing Officer.Shopping malls and major transport hubs in Spain, France, Israel and the U.S. will be using Paris-based Outsight’s laser technology to ensure social distancing, its president and co-founder Raul Bravo said. Aeroports de Paris, which manages the French capital’s airports, is testing Outsight lasers to monitor passenger flows.Fever-checking thermal cameras are starting to become ubiquitous. Airports including London’s Heathrow and Paris’s Charles de Gaulle are testing them.“We sell more cameras every week,” said Guenther Mull, CEO of German biometrics company Dermalog Identification Systems GmbH, which offers mask detection as an add-on to its software. “The demand is currently very high.”Privacy advocates are alarmed. Thermal cameras could be seen as an invasion of privacy, said Rob van Eijk, managing director for Europe at the Future of Privacy Forum, a nonprofit think tank.“It would pressure individuals with relatively higher body temperatures to disclose or divulge, likely against their will, their personal health information that might be unrelated to Covid-19 or other respiratory viral infections,” he said.In Europe, where breaching data protection laws can result in a fine of as much as 4% of annual global revenue, companies typically wouldn’t link temperature readings to names or store the information. Still, fever readings wouldn’t be difficult to trace back to an individual, said Covington and Burling’s Cooper.For now, the checks are being taken in stride. Consider the employees of Bayer 04 Leverkusen, the German soccer club, which invested in five Dermalog thermal cameras. When the Bundesliga became the first major soccer league to resume playing last weekend, the club was ready. It had been scanning its players when they came in for training.In late April, while much of Germany was sheltering in place, professional soccer player Leon Bailey stood at the entrance of the club’s training facilities to have his temperature taken. The camera zeroed in on his forehead to read a temperature of 37 degrees Celsius. No fever. He passed through the arena’s gates and joined his teammates for practice.“They see it’s for their own safety,” said Dr. Karl-Heinrich Dittmar, Bayer Leverkusen’s medical director, in an interview. “Nobody wants to become ill.”Read More:Boxed Lunches and Cubicles Aplenty for Post-Virus Silicon Valley Paris Tests Face-Mask Recognition Software on Metro Riders(This article previously said cameras were being set up at Madrid’s University Camilo Jose Cela. A spokeswoman for Almas Industries altered her statement after publication to say the cameras were for a separate sports hall within the campus, and have not been installed.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Bayer faces second investor reckoning over glyphosate litigation
    Reuters

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    Reuters

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