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Hoechst/Rhone-Poulenc Target November Closure For Aventis Merger

Executive Summary

Hoechst AG and Rhone-Poulenc are targeting a November deadline for the closure of the Aventis merger, Hoechst CEO Jurgen Dormann reported at a press conference in Frankfurt May 17.

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Merger of Hoechst and Rhone-Poulenc into life sciences group Aventis approved by 99.7% of Hoechst shareholders July 16 at extraordinary general meeting in Frankfurt. Rhone-Poulenc shareholders cleared the merger with a 97.4% majority at a general meeting in Paris on July 13. The companies have said they expect the deal to close in November (1"The Pink Sheet" May 24, p. 16)

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