Bayer HealthCare, LLC signed an agreement to acquire Teva Animal Health, Inc. from Teva Pharmaceutical Industries Limited (NYSE:TEVA) for approximately $150 million on September 14, 2012. The purchase price includes an upfront payment of $60 million and $85 million shall be paid based on achievement of manufacturing and sales targets by Teva Animal Health, Inc. All employees will be retained. The deal is subject to antitrust clearance and satisfaction of other conditions and is expected to close in 2013. Phillip Proger of Jones Day acted as legal advisor for Bayer.

Bayer HealthCare, LLC completed the acquisition of Teva Animal Health, Inc. from Teva Pharmaceutical Industries Limited (NYSE:TEVA) on January 3, 2013. As of January 3, 2013, Bayer received the necessary regulatory approvals for the transaction.