Boehringer Ingelheim International Gmbh agreed to acquire Animal Health Business from Sanofi (ENXTPA:SAN) for an enterprise value of €11.4 billion on December 15, 2015. C.H. Boehringer Sohn AG & Co. KG signed a definitive agreement to acquire Animal Health Business from Sanofi (ENXTPA:SAN) on June 26, 2016. The proposed transaction would consist of an exchange of Sanofi animal health business with an enterprise value of €11.4 billion and Boehringer Ingelheim consumer healthcare business including SSP Co. with an enterprise value of €6.7 billon. The transaction includes acquisition of Merial. Boehringer Ingelheim CHC business in China would be excluded from the transaction. The transaction would also include a gross cash payment from Boehringer Ingelheim to Sanofi of €4.7 billion. The execution of definitive agreements is expected in the coming months following consultations with the relevant social bodies and the deal is subject to appropriate regulatory approvals and labor consultations. The transaction is also subject to approval from European Commission with deadline of July 13, 2016. The transaction is also subject to approval from Competition Commission of India. As of July 26, 2016, the deadline for the approval from European Commission was extended to August 4, 2016 from July 20, 2016. As of August 4, 2016, the European Commission has approved the acquisition under the condition that Sanofi disposes certain assets. The deal is expected to close by early 2017. Sanofi intends to use a portion of the net proceeds of the transaction to repurchase shares. The transaction is expected to be business EPS neutral in 2017 and accretive in subsequent years. Boehringer expects the transaction to have a neutral impact on its earnings per share in 2017. As of August 4, 2016, the South African Competition Commission withdrew its approval. As of September 13, 2016, deal was approved by Commerce Commission of New Zealand. As of October 18, 2016, the European Commission extended the deadline of the assessment for the acquisition to November 9, 2016. As on November 9, 2016, European Commission approved the acquisition of Sanofi's animal health business. As of November 22, 2016, the South African Competition Commission approved the transaction. As of December 21, 2016, the FTC approved the transaction. As on January 1, 2017, Boehringer Ingelheim International Gmbh completed the acquisition of Animal Health Business from Sanofi. Lazard acted as financial advisor for Sanofi. Rothschild and BofA Merrill Lynch acted as financial advisors to Boehringer. Michael Aiello, Claude Serra, Yannick Piette, Maxwell Copelan, Mariel Cruz, Maryam Naghavi, Kevin Kitson, Adam Borenstein, John Scribner, Brianne Kucerik, Jared Rusman, Ryan Roberts, Paul Wessel, Jennifer Britz, Thomas Goslin, Michael Epstein, Eric Leventhal, Lauren Springer and Jasmine Rose of Weil, Gotshal & Manges LLP, Paris and Linklaters LLP (France) acted as legal advisors to Sanofi. Linklaters Oppenhoff & Rädler acted as legal advisor to C.H. Boehringer Sohn AG & Co. KG. Jennifer Bethlehem, Jochen Dieselhorst, Thomas Janssens, Christian Ruoff, Andrew Murphy, Gwen Senlanne and Jochen Ellrott of Freshfields Bruckhaus Deringer LLP acted as legal advisor for Boehringer Ingelheim. Simon Peart and Harriet Hansen of Chapman Tripp acted as legal advisors in the transaction. Vir Lakshman of KPMG AG Wirtschaftsprüfungsgesellschaft acted as accountant to management team of Sanofi. Ralph Malacrida, Micha Schilling, Mani Reinert, Markus Wang and Raphael Nusser of Bar & Karrer acted as legal advisor to Sanofi. Boehringer Ingelheim International Gmbh completed the acquisition of Animal Health Business from Sanofi (ENXTPA:SAN) on January 1, 2017.