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Bayer stock slumped on Wednesday as the German giant set a preliminary accord to cap litigation over its weedkiller Roundup.
Bayer late Tuesday said it’s agreed to settle current and potential cases over whether the Roundup weedkiller leads to non-Hodgkin lymphoma for up to $7.25 billion, over up to 21 years. Bayer is having to increase its litigation provisions and liabilities from €7.8 billion ($9.2 billion) to €11.8 billion .
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