Elanco Animal Health Inc

NYSE:ELAN   10:59:49 AM EDT
37.15
+0.51 (+1.39%)
Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

Elanco Announces Agreement To Buy Kindred Biosciences

Published: 06/16/2021 10:52 GMT
Elanco Animal Health Inc (ELAN) - Elanco Announces Agreement to Acquire Kindred Biosciences.
Will Acquire All Outstanding Stock of Kindred Biosciences at a Price of $9.25 per Share, Or Approximately $440 Million.
Elanco Animal Health - Deal and Operating Costs Slightly Dilutive to Co's Reported and Adjusted Earnings per Share in 2021 and 2022.
Intends to Fund Acquisition With Pre-payable Debt.
Elanco Animal Health - Anticipates Combination Will Add About $100 Million to Previously Stated Innovation Revenue Expectation of $500 Million to $600 Million by 2025.
Reaffirmed Q2 2021 Revenue Guidance of $1,225 Million to $1,255 Million.
Reaffirmed Full Year 2021 Revenue Guidance of $4,670 Million to $4,710 Million.
Q2 Revenue View $1.23 Billion -- Refinitiv Ibes Data (analyst estimates).
FY2021 Revenue View $4.70 Billion -- Refinitiv Ibes Data (analyst estimates).