Sanofi-Ablynx Deal Goes Ahead
May 14 2018 - 2:57AM
Dow Jones News
By Donato Paolo Mancini
Sanofi SA (SAN.FR) and Ablynx NV (ABLX.BT) said Monday that the
initial tender offer period for the acquisition of Ablynx has
successfully closed, and that a squeeze-out tender period will
begin later this month.
The French drug company said it will own 95.60% of the
outstanding shares of Ablynx on the settlement date of the offers,
and confirmed the minimum tender condition had been satisfied.
Sanofi said a squeeze-out for the Ablynx securities not tendered
to the offers will begin on May 22 and expire on June 12. Upon
completion of the squeeze-out, all securities of Ablynx will be
delisted.
Sanofi said last January it would acquire nanobody-focused
company Ablynx for 3.9 billion euros ($4.7 billion) in a deal aimed
at expanding its rare blood disorders franchise.
Write to Donato Paolo Mancini at
donatopaolo.mancini@dowjones.com
(END) Dow Jones Newswires
May 14, 2018 02:42 ET (06:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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