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news.Sanofi-aventis and BMP Sunstone have entered into a definitive agreement under which sanofi-aventis is to acquire all outstanding shares of BMP Sunstone for cash consideration of $10 per share, or a total of approximately $520.6m on a fully diluted basis.
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Following the establishment of the Hangzhou Sanofi Minsheng Consumer Healthcare joint venture, the acquisition of BMP Sunstone will make sanofi-aventis a consumer healthcare company in China, with a strong position in both vitamins & minerals supplements and cough & cold.
Sanofi-aventis CEO Christopher Viehbacher said that the acquisition of BMP Sunstone will not only leverage their consumer healthcare business in China, but will also bring us unique access to new expanding distribution channels which are expected to account for a third of the pharmaceutical market in China in the coming years.
BMP Sunstone CEO David (Xiao Ying) Gao said that this transaction offers immediate and significant value for BMP Sunstone stockholders and important benefits to their employees and customers.
"I am excited to work with the sanofi-aventis team to capture the significant growth opportunities this new combination will create in the consumer healthcare market in China," Gao said.
Under the terms of the merger agreement, completion of the transaction is subject to the approval of the merger by BMP Sunstone stockholder’s meeting, as well as the receipt of certain regulatory approvals in China and other customary conditions.