Sanofi Finally Gets Zentiva For US$2.6bn

A sweetened US$2.6bn bid by pharmaceutical multinational Sanofi-Aventis has seen it successfully acquire Czech generics firm Zentiva, three months after its original offer was rejected as too low. In so doing, Sanofi has gained access to Zentiva's massive portfolio of cheaper generic drugs, and its exposure to new emerging markets. Zentiva shareholders will receive CZK1,150 (US$70.44) a share, which represents a 9.5% premium on June's rejected offer. News of the deal sent Zentiva stock up by almost 8% to hit the CZK1,150 offer price, while shares in Sanofi dropped by 4% to hit EUR45.66 (US$67.26).

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