Sanofi is poised to unveil euro 48 billion bid for Aventis: hostile offer would create third-largest drug maker, challenging Pfizer, Glaxo

Article Abstract:

An estimated euro 48 billion hostile takeover bid is expected to be announced by Sanofi-Synthelabo S.A. for rival pharmaceutical company Aventis S.A. The deal would create a company just behind US Pfizer Inc. and UK GlaxoSmithKline PLC in size, which could significantly alter market share and competition in the industry.

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Aventis scrambles to find defense to takeover offer: management rejects the hostile overture, looks at alternatives

Article Abstract:

Aventis S.A. officials rejected a euro 45.4 billion hostile takeover bid from rival Sanofi-Synthelabo S.A. just as Sanofi officials held a news conference promoting the deal. A same-day decline in Sanofi shares and a rise in Aventis shares reduced the bid amount, while Aventis is examining alternatives.

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