Sanofi-Aventis’s takeover bid for Nepentes succeeds

2010-08-11

Sanofi-Aventis has already secured commitments to buy 90% of shares in Nepentes, the listed Polish maker and distributor of medicines and dermocosmetics, DM Bank Handlowy, the stock brokerage that manages the public subscription process, announced on 10 August. This means that the French drug maker has reached the self-imposed minimum level of shares in Nepentes required for the transaction to proceed.
DM Bank Handlowy gave no further details, but the news means Sanofi’s offer received the crucial support of institutional investors holding stakes in Nepentes.
Sanofi-Aventis launched a public takeover bid for 100% of shares in Nepentes on 19 May. The bid values the Polish pharmaceutical firm at about PLN 420m (€106m).