Analysis of top Seeking Alpha coverage: Ablynx
Today we will discuss Sanofi’s (SNY) takeover offer for Belgian biotech Ablynx (ABLYF). Ablyx had earlier this month rejected a hostile takeover offer from Novo Nordisk (NVO), noting that euro 30.50 per share offer undervalued the company. We had discussed in a recent article that the Novo offer undervalued the company and that a higher offer from the Danish biopharma was likely. However, before that could happen, Sanofi offered significant premium to Ablynx and the French biopharma’s offer has already been accepted.