Sanofi - Principia Biopharma Deal Receives U.S. Antitrust Approval

(RTTNews) - Sanofi (SNYNF, SNY) said that the Hart-Scott-Rodino waiting period has expired for Sanofi's acquisition of Principia Biopharma Inc. (PRNB).

On August 28, 2020, Sanofi commenced a tender offer to purchase all outstanding shares of common stock of Principia for $100 per share in cash. The offer is scheduled to expire on September 25, 2020, unless the offer is extended.

The consummation of the offer remains subject to various conditions, including the tender of at least a majority of the shares outstanding immediately prior to the expiration of the offer and other customary conditions.

Sanofi said in Mid-August that it agreed to acquire Principia Biopharma, a late-stage biopharmaceutical company focused on developing treatments for immune-mediated diseases, for $100 per share in cash, representing an aggregate equity value of about $3.68 billion.