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Elanco to Buy Bayer’s Animal Health Unit in $7.6 Billion Deal

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Elanco Animal Health (ELAN.N) has confirmed that it would buy Bayer’s (BAYGn.DE) veterinary drugs unit.

The cash and stock deal is valued at $7.6 billion. The purchase will create the second largest animal health business and widen Elanco’s scope in the pet e-commerce space.

Elanco said the deal is expected to close by mid-2020. Bayer would receive $5.3 billion in cash plus $2.3 billion in stock based on the unaffected 30-day average price as of August 6 and subject to a 7.5 percent symmetrical collar.

Source Link: https://www.reuters.com/article/us-bayer-divestiture-elanco-animal/elanco-to-buy-bayers-animal-health-unit-for-7-6-billion-idUSKCN1VA0UI

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Ezra Ondara

Ezra Ondara

Ezra Ondara is a freelance writer and journalist with a keen interest digital marketing, finance, real estate and insurance. He has a nose for news in these key areas and is determined to keep online readers and enthusiasts up to date with real stories as they happen from all around the globe. When he’s not poking his nose into the business world, he will be watching the Premier League over the weekend or out of town with his family.

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