Deals
Sanofi Leapfrogs Novo With $4.8 Billion Cash Bid for Ablynx
- French drugmaker bids 45 euros in cash, 48% more than Novo
- Ablynx board approves planned takeover after rejecting Novo
This article is for subscribers only.
Sanofi agreed to buy Belgium’s Ablynx NV for 3.9 billion euros ($4.8 billion), outbidding rival Novo Nordisk A/S to gain a potential blockbuster for a rare blood clotting disease.
Paris-based Sanofi will pay 45 euros a share in cash for all outstanding shares of Ablynx, it said in a statement Monday. The price is 48 percent above Novo’s unsolicited offer of as much as 30.50 euros a share. Bagsvaerd, Denmark-based Novo conceded that it had lost, saying in a statement that it won’t try to outbid Sanofi.