Healthcare group Sanofi launches buyout offer for rival Kiadis

FILE PHOTO: A Sanofi logo is seen during the company’s annual results news conference in Paris, France, February 6, 2020. REUTERS/Benoit Tessier/File Photo

PARIS (Reuters) – French healthcare group Sanofi has launched a takeover offer for smaller peer Kiadis, the companies said on Friday, in a deal that would value Kiadis’ at around 220 million euros ($265 million).

Sanofi’s takeover offer is priced at 5.45 euros, a premium of around 1.9% to Kiadis’ closing price of 5.35 euros on Feb. 11.

Kiadis’ board said it was supporting the offer, as it felt Sanofi’s infrastructure and capabilities would help develop Kiadis’ pipeline of products.

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