France’s Sanofi said on Monday it had agreed to buy Synthorx in a cash deal worth around $2.5 billion as it seeks to beef up its immuno-oncology pipeline.
Under the terms of the merger agreement, Sanofi has offered to buy all of the outstanding shares of Synthorx common stock for $68 per share in cash.
The $68 per share acquisition price represents a 172% premium to Synthorx’s closing price on Dec. 6, 2019.
Sanofi expects to complete the acquisition in the first quarter of 2020.
Via Reuters
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