Sanofi board discussing details of Aventis bid: source

0 Comments | AFP, January, 2004

PARIS (AFP) — The board of French pharmaceutical group Sanofi-Synthelabo was finalising a hostile bid for Franco-German rival Aventis which it was expected to launch on Monday, an informed source told AFP.

"The board members are discussing the details of the offer," the source said.

The takeover bid for Aventis, which if successful would create one of the world's biggest pharmaceutical groups, is expected to cost Sanofi around 50 billion euros (63 billion dollars), at a premium of 15 to 18 percent to the current share price, according to the Internet editions of the Financial Times and Wall Street Journal newspapers.

One of the points being discussed by the board is thought to be what percentage of the bid will be in cash and what percent will be in shares....