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Bayer Board To Address Glyphosate Litigation; Shares Surge

The Supervisory Board of Bayer AG (BAYZF.PK,BAYRY.PK,BYR.L) has decided to establish a Supervisory Board committee to make recommendations on glyphosate litigation. Also, it has retained U.S. lawyer John Beisner to advise the Supervisory Board on glyphosate litigation. Beisner will attend the meetings of the new committee.

With regard to the current glyphosate litigation, the Supervisory Board said it recognizes the negative effect of the litigation, and plans to constructively engage in the mediation process.

Separately, shareholder Elliott welcomed the Board's decision, and revealed that he has a stake in Bayer AG. Shares of Bayer AG were up more than 7% on Thursday.

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