Bayer seeks to reach a settlement in the herbicide cancer case and is exploring the bankruptcy of its subsidiary Monsanto

According to sources, Bayer is preparing a plan to reach a settlement regarding a large-scale lawsuit over the "Roundup" herbicide in Missouri. If the settlement fails, Bayer may seek to bankrupt its subsidiary Monsanto. The German pharmaceutical and biotechnology group has already paid approximately $10 billion to resolve controversies related to the carcinogenicity of "Roundup," which is a glyphosate-based herbicide. Additionally, there are about 67,000 pending cases, for which the group has set aside $5.9 billion in legal reserves. Reports indicate that Bayer has hired the law firm Latham & Watkins and consultants from AlixPartners to explore its options. Filing for bankruptcy under Chapter 11 for Monsanto would pause lawsuits against the company and pave the way for determining its liability in the "Roundup" case in bankruptcy court