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Bayer cuts forecasts on Monsanto delay as lawsuits pile up

Bayer (BAYGn.DE) cut its earnings forecast on Wednesday due to delays to its $63 billion (49.2 billion pounds) takeover of Monsanto, and said sales of its consumer care products fell, hitting its shares, already reeling from a legal battle over the weed killer Roundup. The weaker earnings forecast adds to a number of challenges facing the German drugmaker as it braces for years of legal wrangling over the alleged cancer risks of glyphosate-based weedkillers. Bayer said the number of plaintiffs seeking damages over Monsanto’s Roundup and Ranger Pro herbicides had risen to 8,700 from 8,000 from last month, …read more […]

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Exclusive – Lithium producer Albemarle eyes buying FMC if its IPO stumbles: source

The comments, which have not previously been publicly disclosed, come at a time of rapid growth and cutthroat competition across the lithium sector as Albemarle seeks to tap into surging demand for high-tech batteries like those used in Tesla Inc’s Model X and other electric vehicles. Philadelphia-based FMC, primarily a pesticides maker, said in February it would launch a $500 million (390.7 million pounds) initial public offering in October of a stake in its lithium business. Livent’s stock multiple, which will reflect how the stock trades compared to its expected earnings, will be closely watched by Wall Street …read more […]