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French drug company Sanofi-Aventis SA (SNY) Monday said it is commencing the tender offer for all outstanding shares in Chattem, Inc (CHTT).
- The tender offer through Sanofi-Aventis' wholly-owned subsidiary, River Acquisition Corp., for all outstanding shares of common stock of Chattem, Inc. is for $93.50 a share, net to the seller in cash, without interest and less any required withholding taxes.
- The tender offer follows the previously announced Agreement and Plan of Merger, dated December 20, 2009.
- The tender offer is scheduled to expire at 1200 midnight, New York City time, on February 8, 2010, unless the tender offer is extended.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; firstname.lastname@example.org