Source: FARM PROGRESS, 8/20/19


Bayer is selling its animal health business to Elanco Animal Health for $7.6 billion. The deal consists of $5.3 billion in cash, subject to customary purchase price adjustments, and $2.3 billion U.S. dollars in Elanco stock based on the unaffected 30-day volume weighted average price as of Aug. 6, 2019. The sale is expected to be concluded in mid-2020 subject to the satisfaction of customary closing conditions, including antitrust clearance. Bayer intends to exit its stake in Elanco over time. “This transaction enhances our focus as a global leader in life sciences,” said Werner Baumann, Chairman of the Board of Management of Bayer AG.

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