Elanco Animal Health (ELAN) has released an update to notify the public and investors about an entry into a material definitive agreement.
Elanco Animal Health Incorporated has agreed to sell its aqua business to Intervet International B.V. for $1.3 billion in cash. The deal includes assets such as product inventories, real properties, and intellectual property related to the business, and it also involves the transfer of certain employees. The completion of the sale is contingent on regulatory approvals and other conditions. If the transaction is not finalized by November 2024, Elanco may receive a $55 million termination fee. The companies also plan to enter into various agreements at closing to ensure a smooth transition.
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For a comprehensive understanding of the announcement, you can read the full document here.
