Sanofi-Aventis (NYSE:SNY): Closing price $48.90
On Monday, Regeneron Pharmaceuticals reported that it was notifiied by Sanofi under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 that it plans to buy common stock of Regeneron via open market purchases and also direct purchases from shareholders. Sanofi intends that the value of its ownership of voting securities of Regeneron stock will be more than the$500 million HSR Act notification threshhold. However, because of the investor agreement between the parties dated as of December 20, 2007 was amended, Sanofi may not acquire in excess of 30 percent of the outstanding shares of Regeneron’s class A stock and common stock.
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