Sanofi-Ablynx Deal Goes Ahead

   By Donato Paolo Mancini

Sanofi SA (SAN.FR) and Ablynx NV (ABLX.BT) said Monday that the initial tender offer period for the acquisition of Ablynx has successfully closed, and that a squeeze-out tender period will begin later this month.

The French drug company said it will own 95.60% of the outstanding shares of Ablynx on the settlement date of the offers, and confirmed the minimum tender condition had been satisfied.

Sanofi said a squeeze-out for the Ablynx securities not tendered to the offers will begin on May 22 and expire on June 12. Upon completion of the squeeze-out, all securities of Ablynx will be delisted.

Sanofi said last January it would acquire nanobody-focused company Ablynx for 3.9 billion euros ($4.7 billion) in a deal aimed at expanding its rare blood disorders franchise.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com

(END) Dow Jones Newswires

May 14, 2018 02:42 ET (06:42 GMT)

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