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Sanofi to start tender offers for Ablynx deal in April

Sanofi's tender offers to acquire all outstanding securities of Ablynx NV will start April 4.

The €3.9B acquisition secured antitrust clearances in U.S. and Germany earlier in March.

The French drugmaker will commence two concurrent tender offers — a tender offer under the laws of Belgium for all of the outstanding shares, warrants and convertible bonds of Ablynx, and a tender offer under the laws of the U.S. for all of the outstanding shares held by U.S. holders and American depositary shares held by holders, wherever located.

Sanofi will pay €45.00 per share or ADS, €18.66 to €41.79 per warrant, and €393,700.78 per convertible bond.

The offers will expire at 5 p.m. ET on May 4, subject to extension.

Sanofi said the tender offers are subject to customary conditions, including securities representing at least 75% of the outstanding shares of Ablynx at the end of the initial acceptance period of the tender offers.