Sanofi confirms $3.2 bln offer to buy U.S. biotech firm Translate Bio

Telesis Bio

03/08/2021 06:12

PARIS, Aug 3 (Reuters) - French drugmaker Sanofi  SASY.PA 
said it had made a $3.2 billion offer to buy U.S. biotech
company Translate Bio  TBIO.O , as it bets on next-generation
mRNA technology after setbacks in the COVID-19 vaccine race.
    In a statement that confirmed an exclusive report by
Reuters, Sanofi said it would acquire all outstanding shares of
Translate Bio for $38.00 per share in cash, representing a total
equity value of about $3.2 billion for Translate Bio.
    The boards of both companies had approved the deal, the firm
added.
    "Translate Bio adds an mRNA technology platform and strong
capabilities to our research, further advancing our ability to
explore the promise of this technology to develop both
best-in-class vaccines and therapeutics," Chief Executive Paul
Hudson said. 

 (Reporting by Matthias Blamont and Sudip Kar-Gupta; Editing by
Clarence Fernandez)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))