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DewDiligence

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DewDiligence

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Re: DewDiligence post# 171220

Wednesday, 06/16/2021 10:41:23 AM

Wednesday, June 16, 2021 10:41:23 AM

Post# of 251670
ELAN acquires KIN for $9.25/sh cash—a 46% premium to yesterday’s close:

https://www.businesswire.com/news/home/20210616005286/en 925/634

Elanco Animal Health Incorporated (NYSE: ELAN) and Kindred Biosciences, Inc. (KindredBio, NASDAQ: KIN) today announced the parties have entered into a definitive agreement for Elanco to acquire KindredBio, a biopharmaceutical company focused on developing novel pet therapeutics based on validated human targets. The acquisition further accelerates Elanco’s expansion in the attractive pet health market, particularly advancing Elanco’s presence in the fast-growing billion-dollar dermatology category.

The nominal deal value is $440M.

KIN has had a rough ride since its 2014 IPO, but pet healthcare is a hot sector.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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