Sanofi-Aventis (SNY) and Chattem Inc. (CHTT) announced Monday morning that they entered into a definitive agreement under which Sanofi-Aventis will acquire 100% of the outstanding shares of Chattem in a cash tender offer for $93.50 per share, or approximately $1.9 billion.
Chattem Inc. gapped open sharply higher Monday and is now up 22.97 at $92.95 on the highest volume of the year. The stock has surged to a new high for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.