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Sanofi Misses Out on Acquiring Reata Pharmaceuticals to Biogen in USD 7.3 Billion Deal
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Media outlet Bloomberg reported today that France-based Sanofi (NASDAQ: SNY) lost a bidding war to acquire neurological disease specialist Reata Pharmaceuticals (NASDAQ: RETA) last month. The company was ultimately purchased by US compatriot Biogen (NASDAQ: BIIB) for a substantial USD 7.3 billion. According to unnamed insiders cited by the source,…
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Biogen Inc. to Acquire Reata Pharmaceuticals in $7.3 Billion Deal
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US-based Biogen Inc., (NASDAQ: BIIB) has announced that it has reached an agreement to fully acquire compatriot firm Reata Pharmaceuticals Inc., (NASDAQ: RETA) in a cash deal valued at USD 172.50 per share, totaling USD 7.3 billion. The acquisition is anticipated to be completed in the fourth quarter of 2023.…
