Blood thinning deal

29 January 2007 By Rob Cox Follow @rob1cox

Ever since the $52bn US pharmaceuticals group ousted its chief executive in September, it has been de facto on the block. Given their joint Plavix arrangement, Sanofi looks in pole position to pounce.

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Bristol Myers Squibb shares rallied more than 5% Monday after a French newspaper reported the US drug company is in talks that could lead to a takeover by France's Sanofi Aventis.

Le Lettre de l'Expansion reported the two companies have signed a preliminary merger agreement and may unveil an agreement to merge later in the year.

Bristol stock rose $1.61 to $2.82 in early trading. The companies declined to comment. Sanofi's chairman, JeanFrancois Dehecq was quoted by Bloomberg as saying I'm not ready to answer this question in a televised interview.

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