Sanofi Announces Receipt of Antitrust Clearances in Connection with the Acquisition of Ablynx
Sanofi announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") has expired and that Sanofi has received clearance from the Federal Cartel Office of Germany (the "FCO") in accordance with the Act Against Restraints of Competition, applicable to Sanofi's proposed acquisition of Ablynx NV ("Ablynx").
On January 29, 2018, Sanofi and Ablynx announced they had entered into a definitive agreement pursuant to which Sanofi will launch public offers to acquire all of the outstanding ordinary shares (including shares represented by American Depositary Shares), warrants and convertible bonds of Ablynx (the "Offers"). As a result of the expiration of the waiting period under the HSR Act and the clearance from the FCO, the condition to the Offers relating to antitrust approvals has been satisfied.
The consummation of the Offers remains subject to other conditions, including the tender of shares representing at least 75% of the outstanding shares of Ablynx at the end of the initial acceptance period.
The Offers have not yet commenced. The Offers are still expected to be launched by the beginning of the second quarter 2018.