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Replies to post #18244 on The Rising Influence of Rising Affluence
DewDiligence
05/12/19 6:29 PM
#18651 RE: DewDiligence #18244
08/20/19 8:53 AM
#19365 RE: DewDiligence #18244
Elanco Animal Health Incorporated (ELAN) today announced it has entered into an agreement with Bayer AG to acquire its animal health business in a transaction valued at US$7.6 billion. The transaction, which is subject to regulatory approval and other customary closing conditions, creates the second largest animal health leader [behind ZTS]… The transaction will double Elanco’s Companion Animal business, advancing the company’s intentional portfolio mix transformation and creating a balance between its Food Animal and Companion Animal segments. Elanco expects the combined organization to continue to deliver mid-single digit revenue growth… ...Elanco will finance the transaction through both cash and equity. Bayer AG will receive $5.32 billion in cash…and $2.28 billion or approximately 68 million Elanco Animal Health common shares. This represents a 70 percent to 30 percent cash-to-equity mix. Stock received by Bayer is subject to a 7.5 percent symmetrical collar centered on Elanco’s volume-weighted average price for the 30 trading days ended August 6, 2019 of $33.60. The transaction is expected to close in mid-2020, subject to regulatory approvals and other customary closing conditions.