One of Europe’s most contentious takeover battles in years was finally brought to a close last month when a beleaguered Aventis, under intense pressure from the French government, accepted a sweetened $63 billion takeover bid from rival French pharmaceutical company Sanofi-Synthélabo.
The combined company, to be called Sanofi-Aventis, will be the third-largest pharmaceutical company in the world behind US company Pfizer and GlaxoSmithKline of the UK.
The deal will create a single French powerhouse with dominant market shares in cancer, allergy and anti-stroke drugs.
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