Elanco Animal Health Inc

NYSE:ELAN   3:59:59 PM EDT
31.20
+0.29 (+0.94%)
Layoffs, Restructuring / Reorganization, Other Pre-Announcement

Elanco Says Restructuring To Drive Synergies From Bayer Animal Health Acquisition

Published: 09/30/2020 11:50 GMT
Elanco Animal Health Inc (ELAN) - Elanco Announces Restructuring to Drive Synergies From Bayer Animal Health Acquisition.
Elanco Animal Health Inc - De-leveraging Begins With $100 Million Term Loan Repayment.
Elanco Animal Health Inc - Initial Actions Expected to Create at Least $100 Million in Annual Savings.
Elanco Animal Health Inc - Also Noted It Has Started to De-lever by Making a $100 Million Payment on Its Term Loan.
Elanco Animal Health Inc - Announcing Its Intent to Eliminate More Than 900 Positions Across Nearly 40 Countries.
Elanco Animal Health Inc - Cost of Proposed Actions is Expected to Be Between $190 Million and $210 Million.
Elanco Animal Health - As Part of Transaction With Bayer Ag, $35 Million Was Reflected in Purchase Price Attributable to Elanco's Restructuring Costs.
Elanco Animal Health Inc - Expects to Incur a Restructuring Charge of $130 Million to $145 Million in Q3 2020 Along With $40 Million to $45 Million in Q4.
Elanco Animal Health Inc - Cash Severance Payments Will Be Distributed Over Next Two Years.