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Agri-Pulse reports:

Ken Feinberg, who is overseeing mediation between Bayer and plaintiffs in federal lawsuits in California, dismissed a Bloomberg News report that Bayer had offered to pay $8 billion to settle the claims.

"Bayer has not proposed paying $8 billion to settle all the U.S. Roundup cancer claims," Feinberg said in an article by Reuters. "Such a statement is pure fiction. Compensation has not even been discussed in the global mediation discussions."

Plaintiffs' lawyer Brent Wisner said earlier this year that he had been told Bayer could settle the thousands of claims against it for $22 billion. But since then, the number of lawsuits in state and federal court has ballooned from an estimated 13,000 to 18,000.

The Bloomberg report early Friday boosted the company's stock by 11% but after Feinberg's statement it dipped and closed up slightly.

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