Sanofi completes its acquisition of Ablynx following the expiration of the Squeeze-out Procedure
Sanofi (Euronext: SAN; NYSE: SNY) and Ablynx announced today that Sanofi has now acquired all outstanding shares (including shares represented by American Depositary Shares ("ADSs")), warrants and convertible bonds (together, the "Securities") of Ablynx NV ("Ablynx") following the expiration of the Squeeze-out procedure.
The Squeeze-out period commenced on May 22, 2018, in accordance with applicable Belgian and U.S. law, following the acquisition by Sanofi of over 95% of the outstanding shares of Ablynx upon settlement of the initial acceptance period of its tender offer for Ablynx.
On June 12, 2018, upon expiration of the Squeeze-out period, 2,893,201 shares (including 7,163 shares represented by ADSs) and 8 convertible bonds of Ablynx were tendered in the Squeeze-out.
The Securities tendered during the Squeeze-out period are expected to be settled on or about June 19, 2018.
All shares (including all shares represented by ADSs) and all convertible bonds of Ablynx not tendered during the Squeeze-out are deemed transferred to Sanofi by operation of law. The funds required for the payment of the price thereof are kept with the Bank for Official Deposits (Deposito- en Consignatiekas / Caisse des dépôts et consignations). The former Ablynx holders of these Securities retain the right to receive EUR 45.00 per share (or ADS) and EUR 393,700.78 per convertible bond. In order to receive these amounts, they must contact the Bank for Official Deposits, where the funds will remain available.
On June 13, 2018, (i) the shares of Ablynx were delisted from the regulated market of Euronext Brussels, (ii) the ADSs were delisted from NASDAQ Global Select Market and (iii) the convertible bonds were delisted from the open market Frankfurt MTF (Freiverkehr).