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Sanofi set for £33bn Aventis bid

13 April 2012

FRENCH pharmaceuticals firm Sanofi-Synthelabo is planning a £33bn takeover bid for its larger rival Aventis, creating a European powerhouse which could leapfrog GlaxoSmithKline.

If the deal goes ahead, the French firm would be vying with Glaxo to be the second-largest global drugs firm behind US giant Pfizer.

Sanofi's board met last night to discuss what looks likely to be a hostile bid.

Its largest shareholder, French oil company Total, also held a board meeting.

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