Girl Planting seeds

Turning toxic - The Bayer-Monsanto merger

A year after Germany’s Bayer Group took over  Monsanto, and it’s struggling to deal with the US seed giant’s controversial reputation. Now Bayer is also liable for Monsanto’s legal bills - which are starting to mount alarmingly.  Roundup, a herbicide containing glyphosate sold worldwide by Monsanto has long been suspected of causing cancer. A California court has just awarded more than $2 billion in damages to a couple who had claimed that their use of the pesticide caused them to develop non-Hodgkin’s lymphoma . Bayer’s share price halved last year, and the consequences are already making themselves felt in the company itself: Around 12,000 jobs worldwide are to be cut in the next few years, a considerable proportion of them in Germany. CEO Werner Baumann, who pushed for the merger, is coming under increasing pressure. Voicing criticism, a majority of shareholders voted against absolving Baumann and other managers of their responsibility in the merger. Bayer is in the midst of its greatest crisis.

 

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