Ablynx convertibles to be purchased at €310,992 in Sanofi offer

New York, Jan. 29 – Ablynx NV said that Sanofi, SA will offer to buy its €98.4 million of outstanding 3.25% convertible senior bonds due 2020 at a price of €310,992 per €100,000 principal amount, according to a 6-K filing with the Securities and Exchange Commission.

Sanofi and Ablynx announced on Monday that Sanofi will acquire Ablynx for a total of €3.9 billion.

Under the acquisition agreement, Sanofi will pay €45 per share in cash.

The transaction covers all of Ablynx’s outstanding shares, including its American Depositary Shares, its warrants and its convertible bonds.

“With Ablynx, we continue to advance the strategic transformation of our research and development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders,” said Sanofi chief executive officer Olivier Brandicourt in the announcement. “This acquisition builds on a successful existing partnership.”

Sanofi will launch public offers for the various securities, and closing is planned for the second quarter.

Ablynx priced €100 million of the convertibles at par in May 2015.

Sanofi is a Paris-based biopharmaceutical company. Ablynx is a Ghent, Belgium, biopharmaceutical company.

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