Bayer Snaps Up Teva Animal Health Unit In $145M Deal

Law360, New York (September 14, 2012, 12:24 PM EDT) -- The animal health arm of German pharmaceutical giant Bayer AG has agreed to swallow up the substantially smaller U.S. pet and livestock health business of Teva Pharmaceutical Industries Ltd. in a deal that could be worth as much as $145 million, the companies said Friday.

Bayer will pay $60 million in cash up front for the Missouri-based Teva unit and tack on up to $85 million in additional future payments tied to the achievement of manufacturing and sales goals on a set timetable. The companies did...
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