Sanofi launches its $3.68 billion offer for Principia Biopharma
PARIS (Reuters) – Sanofi announced Friday the launch of its tender offer to acquire Principia Biopharma, a U.S. biotech company specializing in the development of treatments for autoimmune and allergic diseases, which will strengthen its portfolio in immunology.
The transaction, through a repurchase of all outstanding shares at a price of $100 per share, represents a cash transaction valued at approximately $3.68 billion ('3.1 billion) and is expected to close in the fourth quarter of 2020.
The offer, which closed on August 16, will expire on September 25.
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