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French civil war

26 January 2004 By Robert Cyran

The French drugs maker has made a E48bn hostile bid for competitor Aventis a measly 4% premium to Friday s close. Based on promised synergies, Sanofi could raise the bid by another 6%. But hostile paper bids are notoriously difficult to pull off. The French drugs maker has made a E48bn hostile bid for Aventis a 15% premium to its prespeculative price.

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