Bayer seeks to settle Roundup cancer cases and explores bankrupting its subsidiary Monsanto.

Insiders say that Bayer is preparing a plan to reach a settlement in a large-scale lawsuit regarding the herbicide "Roundup" in Missouri. If the settlement fails, Bayer may also seek to make its subsidiary Monsanto bankrupt. The German pharmaceutical and biotechnology group has already paid around $10 billion to settle disputes about the carcinogenic effects of "Roundup", a herbicide based on glyphosate. In addition, there are about 67,000 pending cases, for which the group has set aside $5.9 billion in legal reserves. Reports suggest that Bayer has hired the law firm Latham & Watkins and consulting firm AlixPartners as advisors to study its options. Filing for bankruptcy under Chapter 11 by Monsanto would temporarily pause the lawsuits against the company and pave the way for determining its liability in the "Roundup" case in bankruptcy court.