Merck to Buy Animal Health Tech Business for $2.37 Billion
December 14 2018 - 7:56AM
Dow Jones News
By Kimberly Chin
Merck & Co. (MRK) has agreed to acquire the privately held
animal health technology provider Antelliq Group from BC Partners
for a deal valued at about 2.1 billion euros ($2.37 billion) in
cash.
Merck said it would make a cash payment to acquire all the
outstanding shares of the company. It would assume roughly EUR1.15
billion in debt.
Antelliq will be a wholly owned and independently run subsidiary
of Merck's Animal Health division.
The biopharmaceutical company is looking to expand its animal
health business portfolio, particularly toward technology and
services. Antelliq provides digital animal identification,
traceability and monitoring services for farmers and
veterinarians.
The deal is expected to close in the second quarter of 2019.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
December 14, 2018 07:41 ET (12:41 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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