French drug company Sanofi-aventis SA (SNY) said it received Antitrust Clearance to acquire over-the-counter healthcare products and dietary supplements maker Chattem, Inc. (CHTT), as the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, or HSR Act, has expired Tuesday.
On December 21, Sanofi-aventis said it agreed to acquire Chattanooga, Tennessee-based Chattem for about $1.9 billion in cash, which would enable the company to enter the over-the-counter drugs market in the U.S. On January 11, Sanofi-aventis said it has commenced a tender offer through its unit, River Acquisition Corp., to buy Chattem.
The tender offer is scheduled to expire on February 8, unless it is extended, and expiration of the waiting period under the HSR Act is one of the conditions of the tender offer.
Sanofi-aventis today said the deal is a significant milestone in its transformational strategy, which would strengthen its presence in the U.S. consumer healthcare market that represents 25% of the current worldwide opportunity.
In Monday's regular trading session, SNY closed trading at $37.90 per share on the New York Stock Exchange. In the past 52-week period, shares have been trading in a range of $24.59 to $41.59.
CHTT closed Monday's regular trading at $93.27 per share on the Nasdaq.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.