Elanco Animal Health agreed to buy Bayer's veterinary drugs unit on Tuesday...
It also adds to the list of assets sold by Bayer, as the German company looks to slash debt after its $63 billion takeover of seed maker Monsanto last year.The two companies said Bayer would receive $5.3 billion in cash and $2.3 billion worth of Elanco stock based on a price of $33.60 per share, the 30-day average price as of Aug. 6.
Elanco said the stock amounted to 68 million shares, or a stake of about 18.2% based on Refinitiv data, but the number of shares could rise or fall by as much as 7.5%, depending on Elanco’s share price performance on the closing date. The price tag implies a multiple of 18.8 times adjusted core earnings, Bayer said, adding it would sell the equity stake over time.
Reuters reported last month that Bayer had approached Elanco to discuss a possible combination that would be number two after industry leader Zoetis (
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bayer to Sell Animal-Health Unit to Elanco for $7.6 BillionGermany’s Bayer is selling its animal-health business to an American rival for $7.6 billion, part of the drug and chemicals giant’s plan to divest assets amid mounting legal liabilities from its Roundup herbicide.
Leer más »
Elanco to buy Bayer's animal health unit for $7.6 billionElanco Animal Health said on Tuesday it would buy Bayer's veterinary drugs ...
Leer más »
Elanco buying Bayer's animal health business for $7.6 billionElanco Animal Health said it's buying Bayer's animal health business for $7.6 billion. Elanco said it will pay $5.32 billion in cash and $2.28 billion in...
Leer más »
Bayer Sells Its Animal Health Business For $7.6 Billion Amid Mounting Roundup Cancer ClaimsBayer's sale of its animal health business comes after the German chemicals giant proposed an $8 billion payout to settle all cases alleging that Monsanto's Roundup weed killer causes cancer.
Leer más »
Elanco buying Bayer's animal health business for $7.6 billionElanco Animal Health said it's buying Bayer's animal health business for $7.6 billion. Elanco said it will pay $5.32 billion in cash and $2.28 billion in...
Leer más »
Elanco to buy Bayer's animal health unit for $7.6 billionElanco Animal Health said on Tuesday it would buy Bayer's veterinary drugs ...
Leer más »