Zoetis / Neogen Genomics BusinessMN-05013

Parties

Summary

Zoetis Holdings LLC proposes to acquire Neogen Corporation's global animal genomic testing business. This involves Zoetis acquiring shares in Neogen Corporation group companies supplying these services globally, plus certain non-Australian assets. Both US-listed companies provide livestock genomic testing, with Neogen Genomics operating a Brisbane lab.

Acquisition details

Zoetis Holdings LLC ( Zoetis ), a wholly-owned subsidiary of Zoetis Inc., proposes to acquire the global animal genomic testing business ( Neogen Genomics ) of Neogen Corporation (the Acquisition ). Animal genomic testing involves the analysis of an animal’s DNA from samples like hair or tissue and integrating this genetic information with performance and pedigree data primarily maintained by breed societies and industry associations. This process increases the accuracy in prediction of the animal’s genetic merit, helping breeders (e.g. farmers) make early, informed decisions in relation to traits like health, fertility, production (milk/meat) and feed efficiency, as well as physical characteristics. Both Zoetis and Neogen Corporation are US-listed companies that supply genomic testing services in respect of livestock globally, including in Australia. Zoetis supplies genomic testing services from its laboratory located in Kalamazoo, Michigan in the US, and Neogen Genomics supplies services from its laboratory located in Brisbane. The Acquisition will involve Zoetis acquiring all of the shares in the companies within the Neogen Corporation group that supply genomic testing services globally, as well as certain non-Australian assets of Neogen Genomics.