Bayer AG is to sell its animal health unit to the Eli Lilly & Co. spin off, Elanco, in a cash and stock transaction to the tune of $7.6bn as the German conglomerate repositions itself towards life sciences.
The deal, announced on 20 August, will improve Bayer’s ability to pay off some of the debt built up from the Monsanto acquisition. It is the largest transaction in the...
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