Sanofi-Aventis (SNY) On the Prowl For A Mega-Deal In the U.S.?
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According to reports the Wall Street Journal's Deal Journal, Sanofi-Aventis (NYSE: SNY) is on the prowl for a mega-deal in the U.S, citing reports in French business newspaper Les Echos.
Deal Journal said one obvious takeover target is Bristol-Myers Squibb (NYSE: BMY), since the two companies already have an existing partnership developing blood clot drug Plavix. Amgen (Nasdaq: AMGN) is seen as another possible takeover candidate.
European bankers said a deal to acquire Amgen could jeopardize Sanofi’s investment-grade credit rating.
Other more likely takeover targets include botox-maker Allergan (NYSE: AGN) or biotech company Biogen Idec (Nasdaq: BIIB), where activist investor Carl Icahn just won two board seats.
Link to WSJ Deal Journal Article
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