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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Sanofi | EU:SAN | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.39 | -0.43% | 91.23 | 91.00 | 91.62 | 91.72 | 89.63 | 91.38 | 1,682,358 | 16:40:00 |
From Apr 2019 to Apr 2024
By Colin Kellaher
Regeneron Pharmaceuticals Inc. shares fell more than 5% on Tuesday after long-time partner Sanofi SA said it would exit its nearly 21% stake in the biotechnology company.
Sanofi, which currently owns about 23.2 million Regeneron shares, said it plans to sell the majority of its holdings in a public offering, while Regeneron will buy back $5 billion in stock from the French drug maker.
The Tarrytown, N.Y., company said it will fund the repurchase with $3.5 billion of cash on hand and $1.5 billion of fully-committed bridge financing from Goldman Sachs Bank USA.
Shares of Regeneron, which formed its collaboration with Sanofi in 2007, were recently down 5.1% to $540.65.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 26, 2020 10:13 ET (14:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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