January 26, 2004
Paris-based pharmaceuticals group Sanofi-Synthélabo SA announces a public offer of €48.5 billion ($61.6 billion) for Strasbourg rival Aventis SA.
On January 26, Paris-based pharmaceuticals group Sanofi-Synthélabo SA announced a public offer of €48.5 billion ($61.6 billion) for Strasbourg rival Aventis SA. Willkie client Total SA, the energy company that owns 24.4% of the capital and 35% of the voting rights of Sanofi backed Sanofi’s bid for Aventis, as did cosmetics group L’Oréal SA, which holds 19.5% of Sanofi. If the bid succeeds, it will create the world’s second largest pharmaceutical group, behind New York-based Pfizer Inc. The January 27 edition of The Daily Deal reports that the transaction was handled by partners Laurent Faugérolas, Stéphane Sabatier and Gregory Astrachan; special counsel Valérie Landes; and associates Etienne Boursican, Olivier Aubouin and Jon Lyman. Willkie’s role in the deal was covered again in the January 29 Daily Deal and continues to be reported widely in the French press. The deal was coordinated amongst the firm’s Paris, London, Brussels and Frankfurt offices.
