EC approves Elanco's $7.6B purchase of Bayer unit

Monday, 08. June 2020 17:35

The European Commission conditionally approved on Monday Elanco Animal Health Inc.'s $7.6 billion acquisition of Bayer AG's animal health division.

According to the European regulator, Elanco or Bayer will have to sell some of its products to competitors in order to receive approval for their merger.

"With the divestment of current and pipeline products treating ear infections and parasites in pets and livestock, the merger can go ahead whilst preserving competition and innovation in these markets," European Commissioner for Competition Margrethe Vestager (pictured) said in the press release.

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Breaking the News / MD