Inside the deal: Sanofi flipped from sell-off to merger in lead up to $3.2B Translate buyout
Prior to its $3.2 billion acquisition of mRNA player Translate Bio earlier this month, French drugmaker Sanofi considered dumping a quarter of its shares in the firm before ultimately flipping the script and buying the biotech outright at a premium.
That’s the story from an inside look at how the buyout negotiations played out from a Translate filing with the SEC posted online Monday.
In April, Sanofi reached out to Translate to express its interest in selling off around 25% of its shares in the company, which it had been working with since 2018. Under CEO Paul Hudson, who joined the team in mid-2019, Sanofi expanded that collaboration as part of his ambitious goal to center the drugmaker’s next-gen cell therapy and vaccines business around mRNA
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 119,800+ biopharma pros reading Endpoints daily — and it's free.