W.R. Grace agrees to contribute up to $1.8 billion to a bankruptcy trust for current and future mesothelioma victims and other asbestos claimants

After seven years in bankruptcy proceedings, W.R. Grace & Co. has agreed to settle the asbestos claims against it by contributing up to $1.8 billion to a bankruptcy trust for the benefit of present and future asbestos claimants. Grace will make an initial payment of $250 million. Then, between 2019 and 2034, the company will pay an additional $1.55 billion, guaranteed by 50.1 percent of Grace common stock. If the bankruptcy judge approves the deal, all future asbestos claims against Grace would