Elanco Animal Health Raises $1.3 Billion to Fund Bayer Deal

Data : 23/01/2020 @ 12:52
Fonte : Dow Jones News
Titolo : Bayer AG (BAYN)
Quotazione : 66.91  0.0 (0.00%) @ 01:00
Quotazione Bayer Grafico

Elanco Animal Health Raises $1.3 Billion to Fund Bayer Deal

Grafico Azioni Elanco Animal Health (NYSE:ELAN)
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2 Mesi : Da Dic 2019 a Feb 2020

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By Colin Kellaher

 

Elanco Animal Health Inc. (ELAN) Thursday said it raised more than $1.3 billion through public equity offerings to help fund its pending $7.6 billion acquisition of Bayer AG's (BAYN.XE) animal-health unit.

The Greenfield, Ind., animal-health company said it priced an upsized offering of about 22.7 million common shares at $32 apiece and an offering of 11 million 5% tangible equity units at $50 each.

Elanco, which had previously planned to sell about 19.2 million common shares, said it expects to complete the offerings Jan. 27.

The company said it has applied to list the tangible equity units on the New York Stock Exchange under the symbol ELAT.

Elanco last year agreed to pay about $5.3 billion in cash and roughly $2.3 billion in stock for Bayer's animal-health unit.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

January 23, 2020 06:37 ET (11:37 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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