Syngenta AG said on Tuesday it agreed to settle U.S. farmer lawsuits stemming from its decision to commercialize a genetically modified (GMO) strain of corn before China approved importing it, and a person familiar with the matter said the payment would be close to $1.5 billion.
The settlement does not apply to lawsuits filed by U.S. grain handlers Archer Daniels Midland Co and Cargill Inc against the Swiss seed maker, spokespeople for the three companies said.