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Sanofi To Buy Belgium's Ablynx For EUR 3.9 Bln - Quick Facts

French drug giant Sanofi SA (SNYNF,SNY) Monday agreed to acquire Ablynx NV (ABLX), a biopharmaceutical company engaged in the discovery and development of Nanobodies, for 45 euros per share in cash, representing an aggregate equity value of approximately 3.9 billion euros.

Sanofi expects the deal would strengthen its R&D strategy with innovative Nanobody technology platform. IT expands growing rare blood disorders franchise with Ablynx's late-stage investigational caplacizumab, aTTP treatment.

The transaction was unanimously approved by both the Sanofi and Ablynx Boards of Directors.

Under the terms of the agreement, Sanofi will launch public offers to acquire all shares, including ADSs, warrants and convertible bonds of Ablynx in cash.

The deal is subject to customary conditions, including the tender of securities representing at least 75% of the outstanding shares of Ablynx at the end of the initial acceptance period of the Belgian Tender Offer, and the receipt of required regulatory approvals.

The public offers are expected to be launched by the beginning of the second quarter of 2018.

The transaction is expected to close by the end of the second quarter 2018.

Sanofi's Chief Executive Officer Olivier Brandicourt said, "With Ablynx, we continue to advance the strategic transformation of our Research and Development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders. … We intend to maintain and support the Ablynx science center in Ghent."

Morgan Stanley and Lazard are acting as financial advisors to Sanofi. J.P. Morgan is acting as financial advisor to Ablynx.

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