 Sanofi-Aventis Acquisition of Zentiva: European Commission Says Notifications IncompleteThe notification to EU competition regulators of plans by France´s Sanofi-Aventis to buy Czech generic drugmaker Zentiva is incomplete, the European Commission said. Sanofi says the deadline of the bid will not change.
10-03-2008 |
10:26 hs.
Author: Cate Kirby
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The European Commission has warned Sanofi-Aventis that its notification to EU competition regulators of its plans to acquire Czech generics drug maker Zentiva is incomplete. Sanofi-Aventis and Zentiva will have to renotify the EU executive and then a new deadline for the Commission´s competition review will be set, a Commission spokesman said. On September 22nd, the companies said that Zentiva had accepted a higher takeover offer from Sanofi-Aventis that valued Zentiva at around 1.8 billion euros ($ 2.51 billion dollars). Sanofi said that it and Zentiva would work together to get the information, and added the timetable of the bid to end on November 28th remained unchanged. “If it needs to be postponed that would not put the operation in danger," said a Sanofi spokesman.  Publish comment:
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