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July 2, 2010
Sanofi-Aventis Acquires. . .Somebody?
This seems a bit premature: reports have leaked out that Sanofi-Aventis is planning some sort of big acquisition in the US, but no one's saying what it might be. Or if it's going to be done at all - just that they're working on it.
My impression over the years is that deals of this size are contemplated quite often, but that most of them never go through. The numbers don't pan out, the other party gets cold feet, unrelated other developments throw things off. . .there are a lot of things that can go wrong with a potential deal. But talking after-the-fact with some people who've been in a position to see such things, I've been struck by how many feelers are put out, all the time.
So this seems rather unprofessional of someone up there at Sanofi-Aventis. All this sort of leak can do is crank up the speculation about who the targets might be, and raise their stock prices just when you're working on a financial package. Smooth.
Update: the market seems to think that Allergan, Biogen, Genzyme, and possibly Celgene and Gilead are possible targets here. It's also worth noting that the original Bloomberg story cites five people as sources - but they don't all have to be from Sanofi-Aventis. A leak from the company being acquired is still fairly dumb, but it at least makes more sense. . .
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