Sanofi is to acquire Bioverativ Inc.
The companies have entered into a definitive agreement under which Sanofi will acquire all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6 billion (on a fully diluted basis).
The transaction was unanimously approved by both the Sanofi and Bioverativ Boards of Directors.
Bioverativ is a biopharmaceutical company focused on therapies for haemophilia and other rare blood disorders.
Olivier Brandicourt, Sanofi’s Chief Executive Officer, said: “Together, we have a great opportunity to bring innovative medicines to patients worldwide, building on Bioverativ’s success in driving new standards of care with its extended half-life factor replacement therapies.”
Bioverativ Chief Executive Officer, John Cox, said: “Bioverativ was created to bring meaningful progress to people living with haemophilia and other rare blood disorders, and I am extremely proud of the accomplishments we’ve made toward that mission over the past year.
“Our Chairman, Brian Posner, our entire Board and I strongly believed our spin-off would create meaningful value for shareholders, and this transaction delivers tremendous value for the shareholders who have invested in and supported our mission.”