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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, hedge funds, financial advisors and other financial institutions and investors on their most important merger, acquisitions and takeover transactions.

Elanco Raises $1.3 Billion in Concurrent Common Stock and Tangible Equity Unit Offerings

Paul, Weiss advised Elanco Animal Health Incorporated, a premier global animal health company, in the concurrent offerings of 22,694,732 shares of common stock and 11,000,000 5.00% tangible equity units. Elanco will use the approximately $1.3 billion net proceeds from the offerings, together with approximately $4 billion of debt financing, to finance the cash portion of the previously announced acquisition of Bayer AG’s animal health business. Goldman, Sachs & Co., Citigroup, J.P.Morgan and BofA Securities were joint book-runners for both offerings, and BofA Securities, Barclays, BNP PARIBAS, Mizuho Securities, MUFG and Stifel were co-managers.


The Paul, Weiss team included corporate partners David Huntington, Tarun Stewart, Caith Kushner and Manuel Frey; tax partner Scott Sontag; employee benefits partner Andrew Gaines; intellectual property partner Jonathan Ashtor; real estate partner Mitchell Berg; environmental counsel William O’Brien; and litigation partner David Brown.

February 7, 2020

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