GLOBAL MARKETS: Sanofi trumps Novo Nordisk
Sanofi trumps Novo Nordisk French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for €3.9bn ($4.8bn), beating Denmark’s Novo Nordisk. This was its second big takeover in January. Earlier in the month it bought US haemophilia specialist Bioverativ. The companies say Sanofi will pay €45/share in cash for Ablynx, a premium of 21.2% over the closing stock price on Friday. Ablynx had rejected a lower offer from Novo Nordisk. Reuters Alibaba, Foxconn put $350m into Chinese e-car start-up Chinese tech giants Alibaba and Foxconn led a new fundraising round by electric carmaker Xiaopeng Motors, investing ¥2.2bn ($350m) in the start-up as a push toward battery-powered vehicles intensifies. The latest funding puts the total investment in Xiaopeng at ¥5bn, says the carmaker. Other investors include IDG Capital, the company said. Xiaopeng is among the start-ups striving to become China’s Tesla and upend the existing auto sector. Bloomberg
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.