Sanofi SA said Monday that it entered into a definitive agreement for the acquisition of U.S.-based biopharmaceutical company Principia Biopharma Inc. for a total enterprise value of roughly $3.36 billion. "Following the successful completion of the tender offer, a wholly owned subsidiary of Sanofi will merge with Principia and the outstanding Principia shares not tendered in the tender offer will be converted into the right to receive the same $100 per share in cash paid in the tender offer," Sanofi said. The original version of this article incorrectly stated that Sanofi will acquire Principia Biopharma Inc. for a total enterprise value of roughly $3.68 billion. Sanofi has agreed to buy Principia Biopharma Inc. for a total enterprise value of roughly $3.36 billion, and an equity value of $3.68 billion. "Sanofi to Acquire US Company Principia Biopharma for $3.68 Bln," at 0536 GMT, incorrectly stated that Sanofi will acquire Principia Biopharma Inc. for a total enterprise value of roughly $3.68 billion.

Source: Wall Street Journal August 17, 2020 06:11 UTC