Manufacturing Industry

Dutch headquartered pharma concern Zentiva, which operates in Central and Eastern Europe, has rejected an unsolicited takeover bid by French pharma major sanofi-aventis

Chemistry and Industry, August 11, 2008 by Neil Eisberg

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Dutch headquartered pharma concern Zentiva, which operates in Central and Eastern Europe, has rejected an unsolicited takeover bid by French pharma major sanofi-aventis. The offer of CZK10S0/share, making Zentiva worth $2.69bn, is said to undervalue the company, and follows an even lower offer by PPF.

Sanofi-aventis already owns just under 25% of Zentiva through the acquisition of a $518m holding in 2006.

COPYRIGHT 2008 Society of Chemical Industry

COPYRIGHT 2008 Gale, Cengage Learning

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