Zentiva's board advises shareholders to accept new Sanofi-Aventis offer
This article was originally published in Scrip
Executive Summary
Zentiva's board has recommended that its shareholders agree to a new offer from Sanofi-AventisEurope, Sanofi-Aventis's wholly owned subsidiary, to purchase the Czech company's ordinary shares and global depository shares at CK1,150 ($69.70) each in cash. This gives the company a total value of €1.8 billion. The new offer expires on November 28th, unless it is extended. Sanofi-Aventis's previous offer of CK1,050 per share was rejected by Zentiva's board (Scrip Online, July 22nd, 2008).
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