Sanofi to start tender for Ablynx convertibles on April 4, ups price

New York, March 29 – Sanofi, SA will begin its tender offers for the convertible bonds, shares and warrants of Ablynx NV on April 4, according to a news release.

In addition, the purchase price for the convertibles will now be €393,700.78 per bond, up from €310,992.00 per bond previously.

The purchase price for the shares and American Depositary Shares remains €45.00 and for the warrants at €18.66 to €41.79.

Tenders in the initial acceptance period are due by 5 p.m. ET on May 4.

The offers will be carried out in two parts, a tender under Belgian law for the shares, warrants and convertibles and a tender under U.S. law for shares owned by U.S. holders and for the American Depositary Shares.

Conditions to the tenders include that securities representing at least 75% of Ablynx’s outstanding shares be tendered.

BNP Paribas Fortis NV/SA and KBC Securities NV/SA are centralizing receiving agents.

Ablynx priced €100 million of the convertibles at par in May 2015.

Sanofi is a Paris-based biopharmaceutical company. Ablynx is a Ghent, Belgium, biopharmaceutical company.

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