BAYRY - Bayer Aktiengesellschaft

Other OTC - Other OTC Delayed Price. Currency in USD
18.76
-0.12 (-0.64%)
As of 10:03AM EDT. Market open.
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Previous Close18.88
Open18.58
Bid0.00 x 0
Ask0.00 x 0
Day's Range18.57 - 18.70
52 Week Range14.61 - 24.24
Volume172,650
Avg. Volume565,162
Market Cap70.115B
Beta (3Y Monthly)1.13
PE Ratio (TTM)10.17
EPS (TTM)1.84
Earnings DateN/A
Forward Dividend & Yield0.78 (4.20%)
Ex-Dividend Date2019-04-29
1y Target Est26.11
Trade prices are not sourced from all markets
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  • Bayer Inks $7.6B Deal to Divest Animal Health Unit to Elanco
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    Bayer Inks $7.6B Deal to Divest Animal Health Unit to Elanco

    Bayer (BAYRY) inks deal with Elanco to divest its animal health business for $7.6 billion.

  • Reuters

    PRESS DIGEST- Wall Street Journal - Aug 21

    The following are the top stories in the Wall Street Journal. - Bayer AG is selling its animal-health business to American rival Elanco Animal Health Inc for $7.6 billion, part of the German drug-and-chemicals giant's plan to shed assets amid mounting legal liabilities from its Roundup herbicide. - Walmart Inc is suing Tesla Inc alleging that some of the company's solar panels sparked roof fires at several of the retailer's locations, adding to the problems the electric-car maker has had with its venture to power homes and stores.

  • Bayer Sells Animal Health Division to Elanco: Now What?
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    Bayer Sells Animal Health Division to Elanco: Now What?

    On Tuesday, Bayer (BAYRY) announced the sale of its animal-health division to American competitor Elanco (ELAN), for a net price of $7.6 billion. The deal is expected to close in mid-2020 after regulatory approval.

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  • Pharma Stock Dives After Unveiling $7.6 Billion Animal-Health Merger
    Investor's Business Daily

    Pharma Stock Dives After Unveiling $7.6 Billion Animal-Health Merger

    Elanco Animal Health stock toppled Tuesday after announcing its $7.6 billion takeover of Bayer's animal health segment. Elanco stock plunged almost 9% at the close of the stock market.

  • Moody's

    Elanco Animal Health Incorporated -- Moody's places Elanco's Baa3 ratings under review for downgrade

    Moody's Investors Service ("Moody's") placed the ratings of Elanco Animal Health Incorporated ("Elanco") under review for downgrade following the announcement of its definitive agreement to acquire Bayer AG's animal health business. Ratings placed under review include the Baa3-rated unsecured notes, unsecured term loans, and revolving credit facility. Elanco expects the transaction to close in mid-2020, pending regulatory review.

  • Barrons.com

    Elanco Stock Tumbles After It Announces a Deal to Acquire Bayer’s Animal-Health Business

    Elanco Animal Health is one of the largest companies in its field and it plans to get a lot bigger with the $7.6 billion acquisition of Bayer’s animal-health business.

  • Benzinga

    Elanco To Acquire Bayer's Animal Health Business For $7.6B

    Elanco Animal Health Inc (NYSE: ELAN ) shares were trading lower Tuesday after the company announced it would acquire Bayer AG (OTC: BAYRY )'s animal health business for $5.32 billion in cash and $2.28 ...

  • Bloomberg

    Elanco to Buy Bayer’s Animal-Health Unit for $7.6 Billion

    (Bloomberg) -- Elanco Animal Health Inc. clinched the purchase of Bayer AG’s animal-health unit in a deal valued at $7.6 billion, creating one of the biggest stand-alone veterinary-medicine companies in the world.Elanco, which was spun out from drugmaker Eli Lilly & Co. last year, will finance the acquisition with a mix of cash and stock. German drug giant Bayer AG will receive $5.32 billion in cash and $2.3 billion in Elanco Animal Health common shares. The transaction is expected to close in mid-2020.“This will create the No. 2 animal-health company,” Elanco Chief Executive Officer Jeffrey Simmons said in an interview. “We see this as a nice complement. The pet owner, the veterinarian and the farmer win in this transaction.”Shares of Elanco have been under pressure since news of the potential transaction first surfaced earlier this summer. Bloomberg reported that the companies were close to a deal on Aug. 7.Elanco declined as much as 6.3% in New York trading on Tuesday. Bayer shares traded in Germany were down less than 0.1%.Elanco, based in Greenfield, Indiana, expects the deal to add to its adjusted earnings per share in the first full year after it closes. Buying the Bayer division will significantly bulk up its pet business at a time when the agricultural sector has turned more volatile. Last week, Elanco narrowed its sales guidance as a result of the outbreak of a deadly swine flu in Asia, which caused a decline in its farm unit.“With a larger, more diverse animal-health company, the percentage of the vulnerability will be less,” Simmons said, adding that he expects the current swine flu outbreak will eventually pass.Pfizer Inc.’s decision to spin out its animal-health business, Zoetis Inc., in 2013 has prodded other drugmakers to shed their veterinary units. The businesses are often stable, profitable operations whose fortunes are more tied to macroeconomic trends like rising global wealth and protein consumption, instead of risky bets on drug research.For Bayer, the sale adds to the resources it could draw from to pay potential costs for thousands of claims that Roundup, the weedkiller it gained in last year’s Monsanto acquisition, causes cancer. Bayer is in discussions on a possible settlement, but reaching a resolution could take months, people familiar with the matter have said.Simmons said Elanco won’t face any exposure to the Roundup suits.Bullish SectorZoetis, the former Pfizer unit, has seen its stock almost triple since it became an independent company. Elanco finished trading on Monday up 24% since its 2018 stock-market debut. Merck & Co. remains the only major pharmaceutical company that has held onto its animal-health unit, which generates about a 10th of its revenue.The deal would make Elanco the second-largest global animal-health business after Zoetis in terms of revenue, increasing its reach among farmers and pet owners. While it would be the new company’s biggest deal as an independent business, parent Eli Lilly bought Novartis AG’s animal-health unit in 2015 for $5.4 billion and combined the two firms’ assets.“Our top focus is now delivering our pipeline, bolt-ons, and other M&A is not needed,” Simmons said.Wall Street analysts have expressed reservations about the potential deal, saying that the Bayer business is unlikely to deliver a significant boost to Elanco’s growth.“Elanco is buying what I view as a flat-to-declining business that doesn’t innovate and has a high concentration risk,” Kevin Ellich, an analyst at Craig-Hallum Capital Group, said in an interview before the deal was announced. “The deal is dilutive to shareholders. At the end of the day, it’s just not that attractive. I don’t see how the stock goes up.”Simmons said he’s looking forward to setting the record straight with investors. “Now we’re able to respond to the marketplace: There’s been no change in our strategy, this is about growth and innovation,” he said.Elanco intends to work with regulators on potential antitrust issues, but sees the two portfolios as complementary.Goldman Sachs served as financial adviser to Elanco, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Hengeler Mueller were its legal counsel. Elanco’s board of directors was provided a fairness opinion by Duff & Phelps. Bank of America Merrill Lynch and Credit Suisse acted as financial advisers to Bayer, while Sullivan & Cromwell, PwC Legal and Linklaters served as its legal advisers.(Updates stock-price information in fifth paragraph)To contact the reporter on this story: Riley Griffin in New York at rgriffin42@bloomberg.netTo contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett, Mark SchoifetFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Bayer agrees $7.6bn sale of animal health business to Elanco

    Bayer has agreed to sell its animal health unit to sector specialist Elanco for $7.6bn, as the German pharmaceuticals and chemicals group sells off assets in the face of mounting legal claims linked to its disastrous $63bn acquisition of Monsanto. Bayer is to be paid $5.32bn, or 70 per cent of the total, in cash, with the remaining $2.28bn made up of Elanco shares.

  • UPDATE 3-Elanco to become No.2 in animal health with $7.6 bln Bayer deal
    Reuters

    UPDATE 3-Elanco to become No.2 in animal health with $7.6 bln Bayer deal

    Elanco Animal Health agreed to buy Bayer's veterinary drugs unit on Tuesday in a cash and stock deal valued at $7.6 billion, creating the second largest maker of medicines for pets and livestock and expanding Elanco's reach online. The deal is the latest in the fast-growing animal health market, which has recently seen Elanco floated by Eli Lilly and Co and rival U.S. drugmaker Pfizer also spinning off its veterinary medicine business.

  • Elanco to buy Bayer's animal health unit for $7.6 billion
    Reuters

    Elanco to buy Bayer's animal health unit for $7.6 billion

    Elanco Animal Health Inc said on Tuesday it would buy Bayer AG's animal health unit in a cash and stock deal valued at $7.6 billion, a move that would create the second largest animal health business and expand Elanco's reach in the pet e-commerce space. The animal health market has seen Pfizer Inc and Eli Lilly and Co, successfully floating their veterinary medicine units on the stock market as independent entities.

  • MarketWatch

    Elanco buying Bayer's animal health business for $7.6 billion

    Elanco Animal Health said it's buying Bayer's animal health business for $7.6 billion. Elanco said it will pay $5.32 billion in cash and $2.28 billion in stock. Elanco said it intends to fund the cash consideration through a combination of new debt and equity. At close, Elanco expects its gross debt to adjusted EBITDA leverage ratio to be 5x.

  • TheStreet.com

    [video]Elanco to Buy Bayer's Animal Health Business for $7.6 Billion

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  • Barrons.com

    Elanco Animal Health Stock Gets an Upgrade, Despite Bayer Deal Worries

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  • Reuters

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  • Elanco Narrows Guidance Amid Spread of African Swine Fever
    Bloomberg

    Elanco Narrows Guidance Amid Spread of African Swine Fever

    (Bloomberg) -- Elanco Animal Health Inc. narrowed its sales forecast for the year as a worsening outbreak of a deadly swine flu ravages the pork industry in Asia.The company, which was spun off last year from drugmaker Eli Lilly & Co., reined in the higher end of its revenue outlook, saying it now sees 2019 sales of $3.08 billion to $3.12 billion, compared with the $3.08 billion to $3.14 billion it had forecast in May.African swine fever has led to the slaughter of millions of animals in China as officials seek to contain the outbreak and limit the damage to the country’s pork producers. The virulent flu jumped from Africa to Europe and spread quickly in Asia. For companies like Elanco, the culling of livestock has led to lower demand for medicines and other products.“I haven’t seen something like this in my 30 years working in animal health,” said Elanco Chief Executive Officer Jeff Simmons in a telephone interview. He said that swine fever is the most significant headwind the company faces. The disease is expected to cut into Elanco’s sales by $40 million to $50 million this year, the company said.Elanco is meanwhile weighing steps to get bigger. Last week, Bloomberg reported that Elanco is attempting to reach a deal to combine with Bayer AG’s animal-health unit.Chief Financial Officer Todd Young said on a conference call that Elanco is postponing the initiation of a dividend so the company can use its cash “in the most productive way possible.”Shares of Elanco gained as much as 2.9% to $30.40 in New York on Tuesday.Street SkepticismWall Street has been skeptical about Elanco’s bid for the Bayer division. Since July 8, the day before Reuters reported that the companies were in talks, Elanco’s shares are down about 9%.While Bayer prefers a deal with Elanco, no final agreements have been reached and the talks could drag on or fall apart, people familiar with the matter told Bloomberg. Bayer may proceed with its previous plans for a broader auction process if it can’t agree on terms with Elanco by early September, one of the people said at the time.Asked repeatedly about the possible combination with Bayer on the call with investors, Simmons said Elanco is always “evaluating vectors of risk and opportunity.” He declined to comment further on the potential deal.“We believe we have the scale and the global reach that we need,” Simmons said in the telephone interview. “We’ll continue to expand and accelerate this strategy, we’ll continue to bolt-on.”Elanco’s pet businesses helped offset the sales declines in the farm unit in the most recent quarter, with disease prevention sales increasing 4% from a year earlier to $223.4 million and therapeutics sales rising 22% to $83.4 million.Second-quarter adjusted earnings were 28 cents a share, the company said in a statement, topping an average of analysts’ estimates.(Updates with comments from conference call in sixth paragraph)To contact the reporter on this story: Riley Griffin in New York at rgriffin42@bloomberg.netTo contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Barrons.com

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  • Reuters

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  • Bayer to sell its animal health unit to Elanco for $7.6B
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