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© Reuters. File photo: Sanofi’s logo was seen at the company headquarters in Paris, France on April 24, 2020. REUTERS/Charles Platiau
Paris (Reuters)-French pharmaceutical manufacturer Sanofi (NASDAQ:) said it has proposed to acquire US biotech company Translate Bio (NASDAQ:) for US$3.2 billion because it is betting on the next generation of mRNA after the COVID-19 vaccine competition is frustrated. Technology.
In a statement confirming the exclusive report by Reuters, Sanofi stated that it would acquire all outstanding shares of Translate Bio for US$38.00 per share in cash, which means that the total equity value of Translate Bio is approximately US$3.2 billion.
The company added that the board of directors of both companies approved the transaction.
“Translate Bio adds an mRNA technology platform and powerful capabilities to our research, further enhancing our ability to explore the promise of this technology in the development of first-class vaccines and therapies,” CEO Paul Hudson (New York Stock Exchange) The stock code:) said.
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