Bayer AG has agreed to plead guilty to allegations that its rubber chemicals business unit engaged in anti-competitive activities between 1995 and 2001 and to pay a fine of $66 million. The company has confirmed that it has reached agreement with the US Department of Justice to settle the charges. Under the terms of the agreement, The company will set up a retrospective provision for the second quarter of 2004.
Bayer said it has cooperated with the DoJ during the investigation. The agreement, which is subject to court approval, is expected to resolve all criminal charges against Bayer in the US for activities related to its rubber chemicals business.
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Bayer AG(US) news release