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Sanofi extends Aventis offer

Executive Summary

Aventis U.S. shareholders have until June 30 to exchange shares for Sanofi stock; the offer was previously set to close May 28. Sale of Sanofi's thrombosis franchise Arixtra and Fraxiparine to GlaxoSmithKline was approved by the European Commission May 26. Companies are awaiting final clearance of merger and product sale by Federal Trade Commission. Sanofi and Aventis agreed to $65 bil. merger April 25 (1"The Pink Sheet" May 3, 2004, p. 3)...
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