Elanco to buy Bayer's animal health unit for $7.6 billion

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Elanco to buy Bayer's animal health unit for $7.6 billion
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Elanco Animal Health said on Tuesday it would buy Bayer's veterinary drugs ...

The deal is expected to close by mid-2020, Elanco said.

The two companies said Bayer would receive $5.3 billion in cash and $2.3 billion worth of Elanco stock based on the unaffected 30-day average price as of Aug. 6 and subject to a 7.5% symmetrical collar.Reuters reported last month that Bayer had approached former Eli Lilly (

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