It was late on Thursday, 22 April 2004, Jean-Francois DEHECQ, the Chief Executive Officer (CEO) of Sanofi-Synthe labo (Sanofi), France’s second largest pharmaceutical company, was sitting in his office, thinking about what happened over the last three months. On 26 January 2004, he had to obtain a hostile bid for Aventis, France’s largest pharmaceutical company. The merger between Sanofi and Aventis would have created the world’s third largest pharmaceutical company, cl … Read more »

It was late on Thursday, 22 April 2004, Jean-Francois DEHECQ, the Chief Executive Officer (CEO) of Sanofi-Synthe labo (Sanofi), France’s second largest pharmaceutical company, was sitting in his office, thinking about what happened over the last three months. On 26 January 2004, he had to obtain a hostile bid for Aventis, France’s largest pharmaceutical company. The merger between Sanofi and Aventis would have created the world’s third largest pharmaceutical company, the gap with the U.S. and UK-based Pfizer, GlaxoSmithKline (GSK). Jean-Francois DEHECQ had offered 48600000000, but his offer was rejected by the Supervisory Board of Aventis. Since the end of January Aventis had fights, starts a poison pill and inviting Novartis, Switzerland’s largest pharmaceutical company, to act as a white knight.
This is a Thunderbird Case Study.
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from
Barbara S. Petitt
Source: Thunderbird School of Global Management
27 pages.
Publication Date: Oct 27, 2005. Prod #: TB0105-PDF-ENG
Sanofi-Synthelabo and Aventis: The Birth of a National Champion (A) HBR case solution

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