Sanofi-Aventis, the French pharmaceuticals group, has agreed to buy Chattem, a US consumer healthcare company, in a $1.9bn cash deal that will hasten its diversification away from prescription medicines. Sanofi will pay $93.50 a share for Chattem, pushing Sanofi from the sixth to the world’s fifth largest consumer healthcare group by revenues. The offer was at a 34% premium to Chattem’s closing stock price on Friday. See also FT Alphaville on the deal.

This entry was posted by Gwen Robinson on Tuesday, December 22nd, 2009 at 2:44 and is featured in The 6am Cut London (22 Dec 2009) . Tagged with chattem, sanofi-aventis. Edit this entry.