Bayer pleads guilty to price fixing in US

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,…

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