Sanofi-Aventis Snaps Up Chattem For $1.9B

Law360, New York (December 21, 2009, 3:55 PM EST) -- Sanofi-Aventis SA will pay about $1.9 billion to acquire U.S. health care and consumer product company Chattem Inc., giving the French pharmaceutical company direct access to the over-the-counter and consumer branded medication market in the United States, the companies announced Monday in a joint statement.

Sanofi-Aventis will pay $93.50 per share — a 34 percent premium over Chattem's closing price on Dec. 18 — to acquire all of Chattem's outstanding shares in a cash tender offer, creating what the companies said will be the fifth-largest consumer...
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