French group Sanofi to buy US firm Principia Biopharma for $3.7 billion

PARIS (Reuters) - French healthcare company Sanofi SA has agreed to buy U.S. company Principia Biopharma Inc for around $3.7 billion, the companies said on Monday, strengthening Sanofi's presence in research and development (R&D) areas.

Sanofi will buy the outstanding shares of Principia for $100 per share in cash, according to the joint statement, representing an aggregate equity value of around $3.68 billion on a fully diluted basis and a premium of 10% to Principia Biopharma's stock closing of $90.74 on Aug. 14. Sanofi.....

This article is no longer available in our repository.

There could be multiple reasons for this.