Sanofi-Aventis in agreed bid to acquire UK vaccines maker Acambis for L276M
Confirming the attraction of the vaccines sector to Big Pharma, French drug major Sanofi-Aventis - through its Sanofi Pasteur Holdings subsidiary, has entered into an agreement with UK biotechnology company Acambis, to acquire the firm in an all-cash deal of 190 pence a share, or a total of L276.0 million ($549.7 million).
The offer price is a premium of 65.2% both on Acambis' closing of 115 pence ahead of the announcement and average over the last 60 trading days, and has already been accepted by the holders of around 42% of the existing issued share capital, namely Invesco Asset Management and Goldman Sachs International. The transaction is expected to close by end-September.
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