---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-010337"
form_type: "8-K"
ticker: "ELAN"
cik: "0001739104"
company_name: "Elanco Animal Health Inc"
filed_at: "2024-02-05T23:59:59+00:00"
generated_at: "2026-06-06T09:13:05.650320+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Elanco sells aqua business to Merck Animal Health for $1.3B cash

## Summary
- Transaction valued at approx. 7.4x estimated 2023 revenue of $175M and adjusted EBITDA of $92M.
- After-tax proceeds of $1.05B-$1.1B to be used to pay down Term Loan B debt, reducing interest expense ~$65M annually.
- Pro forma net leverage ratio would have been ~5.0x for 2023, down from slight below midpoint of 5.5x-5.8x guidance.
- Expected close around mid-2024, subject to regulatory approvals and customary conditions.
- Divestiture includes ~280 employees, manufacturing sites in Canada and Vietnam, and R&D projects.

## SEC filing metadata
- accession: 0001104659-24-010337
- form_type: 8-K
- ticker: ELAN
- cik: 0001739104
- company_name: Elanco Animal Health Inc
- filed_at: 2024-02-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1739104/000110465924010337/0001104659-24-010337-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1739104/000110465924010337/tm245182d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-010337
- JSON: https://secwatch.observer/filing/0001104659-24-010337.json
- Plain text: https://secwatch.observer/filing/0001104659-24-010337.txt

## Key facts
- Material Agreements
  Elanco Animal Health Inc entered into Asset Purchase Agreement with Intervet International B.V. valued at approximately $1.3 billion (effective 2024-02-05).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Intervet International B.V.
  - Value: approximately $1.3 billion
  - Effective: 2024-02-05
  source text: On February 5, 2024, Elanco Animal Health Incorporated, an Indiana corporation (“Elanco”), and Intervet International B.V., a Dutch private company with limited liability (“Buyer”), entered into an Asset Purchase Agreement (the “Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1739104/000110465924010337/0001104659-24-010337-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.