Bloomberg reports that Bayer (OTCPK:BAYRY +1.4%) recently contacted Elanco Animal Health (ELAN +2.1%) about a possible deal.
Bayer’s animal health unit generated €421M (+1.7%) in sales in Q1, representing 3.2% of the company’s overall revenues.
Elanco, spun out of Eli Lilly last year, generated $731M in sales in Q1.
Update: According to the Financial Post, the companies are discussing a merger. Bayer’s motivation is raising cash after its $63B takeout of Monsanto.
Date: July 15, 2019
Source: Flipboard
