Elanco has offered to pay up to $7.6 billion in cash and stock to purchase Bayer’s animal-health division. The deal may make more sense for the seller than the buyer, writes edwardcropley.
Elanco Animal Health said on Aug. 20 it would pay $7.6 billion in cash and stock for Bayer’s animal-health business in a deal that would create the world’s second largest animal-health company.
Elanco will pay the German company $5.3 billion in cash and 68 million of its shares, worth $2.3 billion based on a share price of $33.60 per share, the volume-weighted average share price over the 30 days to Aug. 6. Elanco said the stock amounted to 68 million shares, or a stake of about 18.2% based on Refinitiv data. 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.
Elanco said the deal, which it expected to close by mid-2020, offered potential synergies of between $275 million and $300 million. Bayer shares were flat on the day, at 66.35 euros. Elanco shares fell 6.1% to $27.99 by 1420 GMT on Aug. 20.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kristina Schulman Explains Why She Kept Blake Horstmann on BiPKristina Schulman confused a lot of fans watching BachelorInParadise, but her explanation for keeping Blake Horstmann is simple.
Read more »
UK PM Johnson digs in on need to change Brexit deal after EU rebuttalBritish Prime Minister Boris Johnson wants to reopen the deal to leave the Europ...
Read more »
Bachelor Nation Reacts to Christian Estrada and Jordan Kimball's FightExclusive! BachelorNation has a lot to say about that fight on BachelorInParadise: 'It was so intense and so scary. Somebody was falling down the stairs. The next person was running after the other. And then I see security.'
Read more »
Luke Smith’s Final ‘Destiny 2’ Reveals Are Broad Nerfs And Trials Of Osiris HintsDestiny 2 will bring Trials back, eventually, but right now needs to deal with some power issues for Shadowkeep.
Read more »
Sexual Predator Larry Nassar Had Support Within USA Gymnastics, Book AllegesJohn Geddert, who has been under investigation for more than a year, is named as one of the primary enablers in AbigailPesta’s book TheGirls. Via VICE
Read more »