In Brief: Rhone-Poulenc Rorer
This article was originally published in The Tan Sheet
Executive Summary
Rhone-Poulenc Rorer: Rhone-Poulenc increasing its ownership of RPR from 68.1% to 100% through a cash tender offer of $97 per share under a definitive agreement signed Aug. 19. The agreement stipulates that shares not acquired in the offer "will be acquired in a second step merger at the same price." The first tender offer will close when Rhone-Poulenc owns at least 90% of RPR's outstanding shares, the French parent company says. The tender offer will cost Rhone-Poulenc $4.37 bil. (27 bil. FFr)...