Abstract

The case gives a detailed account of the events that led to the merger of two of France's leading pharmaceutical companies, Aventis and Sanofi, to form the third largest pharma company in the world. It examines the efforts made by Aventis to prevent a hostile takeover attempt by Sanofi. The case also details the role played by the French government to prevent a possible merger between Swiss-based pharmaceutical company, Novartis and Aventis.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Mergers & Acquisitions
• Hostile Takeover
• Takeover Defense Strategies.

Keywords

Aventis SA, Sanofi-Synthelabo SA, Novartis AG, French Pharma Industry, Politics and Business Environment, Merger & Acquisition, Hostile Takeover, Takeover Defense Strategies, French Takeover Regulations, Trends in European Pharma Industry, White Knight