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Sanofi Launches Tender Offer To Acquire Bioverativ At $105/share In Cash

French drug giant Sanofi SA (SNYNF,SNY) announced Thursday it commenced a tender offer on Wednesday to acquire all of the outstanding shares of common stock of Bioverativ, Inc. (BIVV) for $105 per share in cash, without interest thereon and net of any required tax withholding.

The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of January 21, 2018. It is made by Sanofi and Blink Acquisition Corp., a Delaware corporation and an indirect, wholly-owned subsidiary of Sanofi.

The Offer is scheduled to expire one minute past 11:59 p.m., New York City time, on Wednesday, March 7, 2018, unless the Offer is extended in accordance with the Merger Agreement and the applicable rules and regulations of the Securities and Exchange Commission.

The consummation of the Offer is subject to various conditions, including the tender of at least a majority of the shares of common stock of Bioverativ outstanding immediately prior to the expiration of the Offer and receipt of certain other regulatory approvals, and other customary conditions.

At the effective time of the Merger, the outstanding shares of common stock of Bioverativ not tendered in the Offer will be converted into the right to receive the same amount of cash per share that they would have received had they tendered their shares in the Offer.

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