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Sanofi Commences Tender Offer To Buy Synthorx - Quick Facts

French drug maker Sanofi (SNYNF,SNY) Monday announced that it has commenced a tender offer to acquire all shares of Synthorx, Inc. (THOR), a clinical-stage biotechnology company, for $68 per share in cash. The offer is scheduled to expire one minute past 11:59 p.m., Eastern Time, on January 22, 2020.

The consummation of the Offer is subject to customary closing conditions.

It was in early December that Sanofi agreed to acquire Synthorx. The deal represents an aggregate equity value of about $2.5 billion. The per share acquisition price represents a 172% premium to Synthorx's closing price on December 6.

As said earlier, the acquisition is expected to complete in the first quarter of 2020. Following the successful completion of the tender offer, a Sanofi unit will merge with Synthorx. Sanofi plans to finance the transaction with cash on hand.

Synthorx is focused on prolonging and improving the lives of people suffering from cancer and autoimmune disorders.

Morgan Stanley & Co. is acting as financial advisor to Sanofi and Centerview Partners LLC is acting as exclusive financial advisor to Synthorx.

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