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A bottle of Bayer AG Roundup brand weedkiller is arranged for a photograph in a garden shed in Princeton, Illinois, U.S., on Thursday, March 28, 2019. (Photo: Daniel Acker/Bloomberg) A bottle of Bayer AG Roundup brand weedkiller is arranged for a photograph in a garden shed in Princeton, Illinois, U.S., on Thursday, March 28, 2019. (Photo: Daniel Acker/Bloomberg)

Activist investor Elliott Management Corp. wants Bayer AG to settle thousands of lawsuits claiming the pharma group’s Roundup weedkiller causes cancer. Remove the uncertainty caused by the litigation, and 30 billion euros ($34 billion) of value could be released, Elliott argues. That is easier said than done.

If Bayer traded at multiple of 15 times estimated earnings, in line with its peers, its market capitalization would be closer to 95 billion euros rather than its 56 billion euros today. That estimate is even higher than the company’s market value was in August just before the first adverse ruling against Roundup.

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