Merck to bolster animal health unit with $2.4 billion purchase of Antelliq

(Reuters) - U.S. drugmaker Merck and Co said on Friday it would buy privately held Antelliq Group, which makes digital identification products for animals, for about 2.1 billion euros ($2.37 billion).

Merck said it will make a cash payment and assume Antelliq's debt of 1.15 billion euros ($1.30 billion), which it intends to repay shortly after the closing of the deal.

($1 = 0.8860 euros)

(Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)