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BASF and Bayer, two of the largest chemical corporations worldwide, have been given massive bailouts from the UK government just weeks after announcing that several billion pounds are going to be distributed to company shareholders in dividends.
BASF received £1 billion from the government. This is the largest bailout fund in the UK. Yet, BASF is scheduled to vote on a proposal to distribute three times as much money to shareholders in a few weeks. Bayer, on the other hand, received £600 million in payouts. In spite of having decided to give shareholders £2.75 billion in dividends weeks ago.
The UK government gave the funds to BASF and Bayer without any conditions attached to it. This is very irresponsible, as the two corporations' products have caused major environmental damage. The companies have also been found guilty of hiding and forging information about their products' impact on the environment and human health. Bayer, for instance, has sold pesticides that cause cancer and infertility and have been forced to pay millions in damages as a result.