Sanofi-aventis (SNY) said it completed its tender offer for all outstanding common shares of Chattem Inc. (CHTT). The depositary for the tender offer has advised sanofi-aventis that, as of the expiration time, about 18.61 million common shares of Chattem were validly tendered and not withdrawn representing about 89.8% of the shares on a fully-diluted basis.
Sanofi-aventis said it plans to effect a "short-form" merger under Tennessee law after exercising its top-up option under the merger agreement, and Chattem would become an indirect, wholly-owned unit of sanofi-aventis.
As a result of the merger, any common shares of Chattem not tendered in the tender offer will be cancelled and converted into the right to receive the same $93.50 per share in cash paid in the tender offer.
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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.