Bayer has approached US drug firm Elanco Animal Health to discuss a possible combination of their pet-health businesses to create an industry giant, three sources familiar with the matter told Reuters.
The two companies are working with banks to ensure any merger would secure regulatory approval, the sources said, speaking on condition of anonymity.
Bayer has delayed the launch of an auction to private equity funds to clinch a bilateral deal with Elanco, the fourth-largest player in the animal health industry globally, the sources said.
Full Content: Reuters
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