Elanco Animal Health Incorporated
|
(Name of Issuer)
|
Common Stock, no par value
|
(Title of Class of Securities)
|
28414H103
|
(CUSIP Number)
|
Michael D. Adamski
Sachem Head Capital Management LP
250 West 55th Street, 34th Floor
New York, NY 10019
212-714-3300
|
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
Copies to:
Richard M. Brand
Joshua A. Apfelroth
Cadwalader, Wickersham & Taft LLP
One World Financial Center
New York, NY 10281
(212) 504-6000
|
September 29, 2020
|
(Date of Event which Requires Filing of this Statement)
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 2 of 12
|
1
|
NAME OF REPORTING PERSON OR
|
|||
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
||||
Sachem Head Capital Management LP
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
|
||
|
(b) ☐
|
|||
3
|
SEC USE ONLY
|
|||
|
||||
4
|
SOURCE OF FUNDS
|
|||
OO (See Item 3)
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
||
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|||
Delaware
|
||||
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7
|
SOLE VOTING POWER
|
||
0
|
||||
8
|
SHARED VOTING POWER
|
|||
27,835,500
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|||
0
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|||
27,835,500
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
27,835,500
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
||
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|||
5.9%
|
||||
14
|
TYPE OF REPORTING PERSON
|
|||
IA
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 3 of 12
|
1
|
NAME OF REPORTING PERSON OR
|
|||
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
||||
Uncas GP LLC
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
|
||
|
(b) ☐
|
|||
3
|
SEC USE ONLY
|
|||
|
||||
4
|
SOURCE OF FUNDS
|
|||
OO (See Item 3)
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
||
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|||
Delaware
|
||||
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
|
7
|
SOLE VOTING POWER
|
||
0
|
||||
8
|
SHARED VOTING POWER
|
|||
27,835,500
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|||
0
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|||
27,835,500
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
27,835,500
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
||
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|||
5.9%
|
||||
14
|
TYPE OF REPORTING PERSON
|
|||
OO
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 4 of 12
|
1
|
NAME OF REPORTING PERSON OR
|
|||
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
||||
Sachem Head GP LLC
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
|
||
|
(b) ☐
|
|||
3
|
SEC USE ONLY
|
|||
|
||||
4
|
SOURCE OF FUNDS
|
|||
OO (See Item 3)
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
||
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|||
Delaware
|
||||
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
|
7
|
SOLE VOTING POWER
|
||
0
|
||||
8
|
SHARED VOTING POWER
|
|||
11,000,000
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|||
0
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|||
11,000,000
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
11,000,000
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
||
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|||
2.3%
|
||||
14
|
TYPE OF REPORTING PERSON
|
|||
OO
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 5 of 12
|
1
|
NAME OF REPORTING PERSON OR
|
|||
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
|
||||
Scott D. Ferguson
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
|
||
|
(b) ☐
|
|||
3
|
SEC USE ONLY
|
|||
|
||||
4
|
SOURCE OF FUNDS
|
|||
OO (See Item 3)
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
||
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|||
United States
|
||||
NUMBER OF
SHARES BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH
|
7
|
SOLE VOTING POWER
|
||
0
|
||||
8
|
SHARED VOTING POWER
|
|||
27,835,500
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|||
0
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|||
27,835,500
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
27,835,500
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐
|
||
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|||
5.9%
|
||||
14
|
TYPE OF REPORTING PERSON
|
|||
IN
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 6 of 12
|
(i)
|
Sachem Head Capital Management LP, a Delaware limited partnership (“Sachem Head”);
|
|
(ii)
|
Uncas GP LLC, a Delaware limited liability company (“SH Management”);
|
|
(iii)
|
Sachem Head GP LLC, a Delaware limited liability company (“Sachem Head GP”); and
|
|
(iv)
|
Scott D. Ferguson, a citizen of the United States of America (together with Sachem Head, SH Management and Sachem Head GP, the “Reporting Persons”).
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 7 of 12
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 8 of 12
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 9 of 12
|
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 10 of 12
|
Exhibit 99.1 | Joint Filing Agreement, among Sachem Head Capital Management LP, Uncas GP LLC, Sachem Head GP LLC and Scott D. Ferguson. |
Exhibit 99.2 | Trading data. |
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 11 of 12
|
SACHEM HEAD CAPITAL MANAGEMENT LP | |||
By: Uncas GP LLC, its General Partner | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
UNCAS GP LLC | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
SACHEM HEAD GP LLC | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
CUSIP No. 28414H103
|
SCHEDULE 13D
|
Page 12 of 12
|
Exhibit Number
|
Description of Exhibits
|
Exhibit 99.1
|
Joint Filing Agreement, among Sachem Head Capital Management LP, Uncas GP LLC, Sachem Head GP LLC and Scott D. Ferguson.
|
Exhibit 99.2
|
Trading data.
|
SACHEM HEAD CAPITAL MANAGEMENT LP | |||
By: Uncas GP LLC, its General Partner | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
UNCAS GP LLC | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
SACHEM HEAD GP LLC | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Managing Member | |||
|
By:
|
/s/ Scott D. Ferguson | |
Scott D. Ferguson | |||
Name
|
Trade Date
|
Buy/Sell
|
No. of Shares/
Quantity |
Unit Cost/
Proceeds |
Security
|
Expiration Date
|
Sachem Head LP
|
9/1/2020
|
Buy
|
6,600
|
29.06
|
OTC physically settled total return swap*
|
9/4/2023 |
Sachem Head LP
|
10/1/2020
|
Sell
|
23,100
|
27.93
|
OTC physically settled total return swap*
|
10/3/2023 |
Sachem Head Master LP
|
9/1/2020
|
Sell
|
6,600
|
29.06
|
OTC physically settled total return swap*
|
9/4/2023 |
Sachem Head Master LP
|
10/1/2020
|
Buy
|
23,100
|
27.93
|
OTC physically settled total return swap*
|
10/3/2023 |
SH Sagamore Master V Ltd.
|
9/29/2020
|
Buy
|
800,000
|
27.00
|
OTC physically settled total return swap
|
9/28/2023 |
SH Sagamore Master V Ltd.
|
9/30/2020
|
Buy
|
1,400,000
|
28.06
|
OTC physically settled total return swap
|
9/28/2023 |
SH Sagamore Master V Ltd.
|
10/1/2020
|
Buy
|
35,500
|
27.98
|
Common Stock
|
N/A |
SH Sagamore Master V Ltd.
|
10/1/2020
|
Buy
|
800,000
|
27.57
|
OTC physically settled total return swap
|
10/3/2023 |
SH Sagamore Master V Ltd.
|
10/2/2020
|
Buy
|
600,000
|
27.80
|
OTC physically settled total return swap
|
10/4/2023 |
SH Sagamore Master V Ltd.
|
10/5/2020
|
Buy
|
600,000
|
28.15
|
OTC physically settled total return swap
|
10/6/2023 |
SH Sagamore Master V Ltd.
|
10/6/2020
|
Buy
|
600,000
|
28.49
|
OTC physically settled total return swap
|
10/9/2023 |