Elanco has confirmed an agreement has been reached to acquire Bayer’s animal health business for £6.3 billion.
‘Elanco shares Bayer’s passion for improving the health and wellbeing of animals’ commented Jeffrey Simmons, president and chief executive of Elanco. ‘Our customers will benefit from the acquisition as we can combine our strong relationships with veterinarians, and Bayer’s leadership in retail and e-commerce. I look forward to joining our portfolios together to build a fully focused animal health company.’
“Bayer’s Animal Health business purchased by Elanco“
With Bayer’s animal health business being a global leader within the segment, Elanco will pay nearly £4.4 billion in cash, with the rest of the final total being made with the rest of Elanco’s stock, with Bathe Bayer name being phased out over time. Chairman of Bayer’s AG board of management Werner Baumann commented ‘we would like to thank all our animal health employees for their commitment and success they have brought to or animal health business.’