Sanofi has completed its acquisition of Bioverativ for $105 per share in cash. As a result, Bioverativ is now a fully owned subsidiary of Sanofi.
Dollars
“The addition of Bioverativ provides us with a strong position in the large and growing haemophilia market and expands our presence in specialty care,” said Olivier Brandicourt, Sanofi's chief executive officer. “Through a series of three strategic transactions — the addition of Bioverativ, our planned acquisition of Ablynx and our agreement for fitusiran — we are well on our way to creating a leading franchise in the field of rare blood disorders.”
Sanofi started its tender offer for all outstanding shares of Bioverativ at the beginning of February this year. This closed at one minute after 11.59 pm on Wednesday 7 March, New York City time. With the minimum tender condition and all other conditions satisfied, Sanofi and its wholly-owned subsidiaries were accepted for payment and required to pay for all validly tendered shares.
Any shares that were not validly tendered as per this acquisition have been converted into the right to receive the same $105 per share in cash (without interest and net of any required tax withholding), that would have been paid had such shares been validly tendered in the tender offer.