Sanofi, Boehringer Ingelheim deal

Sanofi will exchange its Merial animal health unit for the consumer healthcare business of Boehringer. The deal excludes Boehringer’s consumer healthcare business in China. The companies said Merial’s enterprise value is EUR11.4 billion ($12.6 billion), while Boehringer’s consumer healthcare business has an enterprise value of EUR6.7 billion ($7.4 billion). Boehringer will also pay Sanofi EUR4.7 billion ($5.2 billion) in cash. The companies, which began negotiating the deal in December, expect the deal to close by year end. ...