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Nestlé is responding to cautious consumer spending by increasing promotions to attract shoppers, especially in the U.S. where food prices are perceived as high. The company reported weaker-than-expected third-quarter results and lowered its full-year sales forecast due to consumers pulling back on spending. Nestlé's pet-care business has also experienced slowing growth, with pet owners in the U.S. opting for less expensive brands. The company is focusing on optimizing promotions and pricing strategies to appeal to consumers while maintaining profitability. [Extracted from the article]

Merck & Co. has announced its plans to acquire Elanco Animal Health's aqua business for $1.3 billion. The deal includes a range of medicines, vaccines, nutritionals, and supplements for aquatic species, as well as manufacturing plants in Canada and Vietnam and a research facility in Chile. Merck's animal-health unit, which generated over $5.63 billion in sales last year, will benefit from this acquisition. Elanco intends to use the proceeds from the sale to pay down debt. The deal is expected to close in the middle of the year. [Extracted from the article]

Merck has announced its plans to acquire Elanco's aqua business for $1.3 billion, expanding its animal-health business. The deal includes a portfolio of medicines, vaccines, nutritionals, and supplements for aquatic species, as well as manufacturing plants in Canada and Vietnam and a research facility in Chile. Elanco's aqua business generates approximately $175 million in annual revenue. The sale will provide Elanco with $1.05 billion to $1.1 billion in after-tax cash proceeds to pay down debt. The deal is expected to close around mid-year. [Extracted from the article]

Keywords: wsjfinance; a-hed; Food/Beverages; Animal Feed; Pet Food; Consumer Goods; Food Products; Corporate/Industrial News; Political/General News; Society/Community EN wsjfinance a-hed Food/Beverages Animal Feed Pet Food Consumer Goods Food Products Corporate/Industrial News Political/General News Society/Community N.PAG N.PAG 1 04/06/23 20230405 NES 230405 Their dogs aren't Jewish, but observant pet owners still face issues finding kibble that is acceptable for the holiday. Mr. Avigdor, the My Pet Market owner, who is Jewish, for years had a pet Seder - the traditional Passover meal - outside his stores where pet parents would sit with their pooches, opening a can of Evanger's after every reading. Wsjfinance, Food/Beverages, a-hed, Animal Feed, Pet Food, Food Products, Consumer Goods, Corporate/Industrial News, Political/General News, Society/Community. [Extracted from the article]