Sanofi-Synthelabo--Aventis: Offer in three countries ready... The French were in shock and awe when Sanofi-Synthelabo S.A. (SNY), of Paris announced a hostile bid for its much larger rival Aventis S.A (AVE), of Strasbourg on January 26, 2004. The bold American-style move was not well received as Aventis claimed that Sanofi’s original bid of $60.2B grossly undervalued the company. The premium was less than 4% over its previous day close. Aventis has nearly twice the amount of drug sales of its rival.
