Bayer sells animal health unit to Elanco for $7.6bn

Bayer 230x150
By Mike Turner
20 Aug 2019

Germany’s Bayer has agreed to sell its animal health business to US firm Elanco for $7.6bn in cash and equity. Analysts reckon this will be positive for Bayer's credit quality, after its litigation-shrouded Monsanto acquisition last year.

Animal health company Elanco is paying for the deal using $5.32bn in cash and $2.28bn in equity – equal to around 68 million Elanco shares. 

The acquisitive company has got a bridge loan in place for the deal.

The bump in debt will see Elanco’s leverage to rocket up to ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.