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Sanofi closes tender offer for $3.9B Ablynx buy

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Sanofi closes tender offer for $3.9B Ablynx buy

Sanofi said it closed the initial tender offer to acquire all outstanding shares of Ablynx NV.

The French drugmaker said securities representing 95.60% of Ablynx were tendered to its offer to buy the Belgian biopharmaceutical company.

Sanofi agreed to acquire Ablynx NV for €3.9 billion earlier this year.

In addition to the proprietary nanobody technology platform that Ghent, Belgium-based Ablynx is known for, it has more than 45 experimental compounds in development in a wide range of therapeutic areas, which will be complementary to Sanofi's research and development.