Sanofi says US FTC wants more information on Aventis takeover

0 Comments | AFP, May, 2004

PARIS (AFP) — French pharmaceutical group Sanofi-Synthelabo said the US Federal Trade Commission had asked for more information on Sanofi's takeover bid for French-German rival Aventis, to complete an FTC investigation.

The FTC's decision would not delay the completion of the offer, expected before the end of the second quarter, Sanofi said in a statement.

It added that the "resolution of the issues being discussed with the FTC" would not have "any material impact on the business of the future group".

Sanofi and Aventis would "fully cooperate with the FTC's investigation to resolve all remaining issues as promptly as possible", the statement said.

Sanofi said the FTC's request was "standard practice" for a transaction of this size.

The drugs...