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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Eli Lilly Completed Separation of Elanco Animal Health

03/12/2019

Eli Lilly has effectively disposed of the 80.2 percent of the equity in Elanco Animal Health which it retained with the IPO.  Their holding comprises 293.3 million shares.  The transaction recently concluded represented a tax-efficient mechanism to separate the human and animal health businesses of Eli Lily.  The holding company believes that the disposal of Elanco shares will enhance value and allow it to concentrate on human pharmaceuticals.

 

The transaction will represent an exchange of Elanco stock for outstanding Lilly common stock.  Following the exchange during the week of March 11th, Lilly will no longer have an ownership interest in Elanco.  The share price was determined on March 4th through 6th, 2019 and based on $100.00 of Lilly common stock for $107.50 of Elanco common stock.


 
Copyright 2019 Simon M. Shane