Enviado: 26/1/2004 19:16Aventis Press Release
"Strasbourg, France – Aventis has been informed that Sanofi-Synthelabo has submitted an unsolicited offer to take control of Aventis.
The Aventis Management Board, led by Chairman Igor Landau, would like to emphasize that the offer, which was launched without any prior approach from Sanofi-Synthelabo, is of a hostile nature and does not take into account the wide range of risks associated with this move.
Furthermore, the offer contains a premium of 3.6% over the last closing price of the Aventis share. , because it offers inferior value The Management Board of Aventis believes that this proposal is not in the best interest of its shareholderscompared to the achievement of the current stand-alone strategy and would compel its shareholders to assume significant risks associated with Sanofi´s main products.
The Management Board believes that there are other scenarios with a stronger industrial and social rationale.
For these reasons, the Management Board has decided to recommend to the Supervisory Board to reject the offer. Jürgen Dormann, Chairman of the Supervisory Board, and Jean-René Fourtou, Vice Chairman of the Supervisory Board, will also recommend a rejection of the offer.
About Aventis
Aventis is dedicated to treating and preventing disease by discovering and developing innovative prescription drugs and human vaccines. In 2002, Aventis generated sales of € 17.6 billion, invested € 3.1 billion in research and development and employed approximately 71,000 people in its core business. Aventis corporate headquarters are in Strasbourg, France."
"Strasbourg, France – Aventis has been informed that Sanofi-Synthelabo has submitted an unsolicited offer to take control of Aventis.
The Aventis Management Board, led by Chairman Igor Landau, would like to emphasize that the offer, which was launched without any prior approach from Sanofi-Synthelabo, is of a hostile nature and does not take into account the wide range of risks associated with this move.
Furthermore, the offer contains a premium of 3.6% over the last closing price of the Aventis share. , because it offers inferior value The Management Board of Aventis believes that this proposal is not in the best interest of its shareholderscompared to the achievement of the current stand-alone strategy and would compel its shareholders to assume significant risks associated with Sanofi´s main products.
The Management Board believes that there are other scenarios with a stronger industrial and social rationale.
For these reasons, the Management Board has decided to recommend to the Supervisory Board to reject the offer. Jürgen Dormann, Chairman of the Supervisory Board, and Jean-René Fourtou, Vice Chairman of the Supervisory Board, will also recommend a rejection of the offer.
About Aventis
Aventis is dedicated to treating and preventing disease by discovering and developing innovative prescription drugs and human vaccines. In 2002, Aventis generated sales of € 17.6 billion, invested € 3.1 billion in research and development and employed approximately 71,000 people in its core business. Aventis corporate headquarters are in Strasbourg, France."
