Reuters revealed that Germany’s Bayer has approached U.S. drug firm Elanco Animal Health to discuss a possible combination of their pet-health businesses to create an industry giant. Shares in Elanco – the fourth-largest player in the animal health industry globally – rose 5% to $35.08 following the Reuters report. If successful, the deal will see Bayer retain a stake in the combined entity as Elanco would struggle to finance an outright acquisition. Bayer is also warming up private equity bidders but has delayed the launch of an auction process as it seeks to clinch a more lucrative deal with Elanco.
Reuters exclusively reports Germany’s Bayer seeks animal health merger with Elanco; market reacts
09 July 2019, 12:00 am 1 minute
Type: Reuters Best
Regions: Europe / Middle East / Africa