Bayer Vows to Back Roundup as Investors Fret About Crop Unit
- Earnings beat estimates in first full Monsanto quarter
- Shares fall as Bayer reports rise in Roundup plaintiffs
Photographer: Jasper Juinen/Bloomberg
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Bayer AG vowed to defend its embattled weedkiller Roundup as investors worried about the health of the agricultural business the German company bolstered with the $63 billion acquisition of Monsanto Co.
The shares fell as much as 4 percent in Frankfurt, reversing earlier gains, amid concerns that the company may be setting too high a bar for the crop-science unit. Bayer earlier reported adjusted earnings that beat analysts’ estimates but also disclosed a rising number of Roundup lawsuits.