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Bold Brandicourt Plots Mega Sanofi And Boehringer Animal, Consumer Asset Swap

This article was originally published in Scrip

Executive Summary

Sanofi and Boehringer Ingelheim are in exclusive negotiations to swap parts of their businesses. The deal would involve an exchange of Sanofi's animal health business Merial, which is worth €11.4bn, with Boehringer's consumer healthcare (CHC) business, worth €6.7bn. To make up the difference in value between the two businesses, Boehringer would make a cash payment to Sanofi of €4.7bn.

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