Bayer to exit animal health business

摘要

Germany's Bayer has announced a deal to sell its animal health business unit to US-based Elanco Animal Health. The transaction is valued at $7.6-bn consisting of $5.3-bn in cash, subject to customary purchase price adjustments, and $2.3-bn in Elanco stock based on the unaffected 30-day volume weighted average price as of August 6,2019. Bayer said it intends to exit its stake in Elanco over time.