German company Boehringer Ingelheim announced its plan to buy privately owned poultry vaccine maker Lohmann Animal Health. This was according to a report published by Reuters on its website.
Boehringer Ingelheim is the presently the biggest unlisted drugmaker in the world. It cited growth for its animal health products business as the primary goal for the said proposed acquisition. The company would be expected to submit its bid for Lohmann by Monday, said the report.
Lohman Animal Health is a privately-held company that manufactures poultry vaccines and feed feed addditives. It is owned by PHW Group, the largest poultry farmer in Germany and owner of the Wiesenhof brand, the report stated.
The proposed deal would value Lohmann at around EUR400 million or USD535 million. This would be 16 times the expected value of its operating earnings. Privated equity groups including Permira would also submit offers for the group. Commerzbank would organize the deal, Reuters reported.
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