Novartis And Aventis Begin Merger Talks; Sanofi Considers Raising Bid
Sanofi will continue to evaluate the market response to its tender offer for Aventis before deciding whether to sweeten its bid, CFO Marie-Helene Laimay said during a first quarter investor call April 22
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Sanofi's $65 bil. merger with Aventis will offer the combined entity additional negotiating clout with large U.S. drug purchasers, Exec VP-Operations Hanspeter Spek said during an April 26 conference call
Novartis will need to start over in its search for a merger partner after bowing out of the bidding process for Aventis
Sanofi's winning bid for Aventis includes an additional $8 bil. in cash, nominal joint control of the merged company, and an acknowledgment of Aventis' Franco-German heritage