9 Jun 2020
Elanco closes in on its acquisition of Bayer’s animal health business after European Commission gives the green light.
James Westgate
Job Title
Jeff Simmons celebrating with Elanco execs when Bayer deal was announced last year.
The European Commission (EC) has given its approval for Elanco’s pending multibillion-pound acquisition of Bayer’s animal health business.
Reported to be worth more than £6 billion, the deal is expected to be completed by 3 August and will see Elanco become the second biggest animal health business in the world behind Zoetis.
Elanco chief executive Jeff Simmons said: “The recent months have only underscored the critical work our farmers do in delivering meat, milk, fish and eggs, and the importance of providing pet owners and veterinarians with a variety of solutions in multiple channels from telemedicine and e-commerce to direct home delivery.
“Combining Bayer Animal Health’s leadership in these areas better positions Elanco to deliver on these needs.”
Elanco previously announced divestiture agreements – in the range of £94 million to £110 million of revenue – to help advance the needed regulatory reviews.
The EC’s approval is conditional on the following divestitures:
