logo
Plus   Neg
Share
Email

Elanco Animal Health Completes Acquisition Of Bayer Animal Health - Quick Facts

Elanco Animal Health Inc. (ELAN) announced Monday that it has closed the acquisition of Bayer Animal Health. The transaction, valued at $6.89 billion, expands Elanco's scale and capabilities, positioning the company for the long term as a leader in the attractive, durable animal health industry.

It also strengthens Elanco's Innovation, Portfolio, Productivity (IPP) strategy, which the company has been executing on since before its IPO in 2018.

Upon close, Bayer AG received $5.17 billion in cash, comprised of proceeds from the company's equity and tangible equity unit issuances in the first quarter of 2020 and debt financing from the Term Loan B priced in the first quarter of 2020 that closed with the transaction closing.

Additionally, approximately 72.9 million shares of Elanco Animal Health common stock were issued to Bayer AG. These shares will be subject to a lock up, where Bayer cannot sell any shares for the first 90 days.

Moreover, Elanco has completed the required anti-trust divestures that had been previously announced. The divested products had 2019 revenue in the range of $120 million to $140 million.

In September 2019, Elanco agreed to acquire the animal health division of Bayer AG in a cash and stock deal valued at $7.6 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT