France’s Sanofi to buy Synthorx for $2.5 billion

epa05071405 Signage outside the pharmaceutical company Sanofi offices in Cambridge, Massachusetts, USA, 16 December 2015. French drug maker Sanofi said on 15 December that it has launched exclusive talks with Germany's Boehringer Ingelheim for an 18.1-billion-euro (20-billion-dollar) exchange of assets between the two groups. EPA/CJ GUNTHER

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France’s Sanofi said on Monday it had agreed to buy Synthorx in a cash deal worth around $2.5 billion as it seeks to beef up its immuno-oncology pipeline.

Under the terms of the merger agreement, Sanofi has offered to buy all of the outstanding shares of Synthorx common stock for $68 per share in cash.

The $68 per share acquisition price represents a 172% premium to Synthorx’s closing price on Dec. 6, 2019.

Sanofi expects to complete the acquisition in the first quarter of 2020.

Via Reuters

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