Sanofi to buy American biotech company Translate Bio for $ 3.2 billion
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Sanofi to buy American biotech company Translate Bio for $ 3.2 billion

Sanofi said Tuesday that it had offered to buy US biotech company Translate Bio for $ 3.2 billion. Thus, the company is betting on a new generation of messenger RNA technology after the challenges associated with developing a vaccine against COVID-19.

Sanofi announced that it would acquire all of Translate Bio’s outstanding shares at $ 38.00 per share in cash. The boards of directors of both companies approved the deal, the statement said.

“Translate Bio adds an mRNA technology platform and powerful capabilities to our research, further expanding our ability to explore the potential of this technology to develop best-in-class vaccines and therapeutics,” Sanofi CEO Paul Hudson said in a statement.

Translate Bio rose sharply on Monday following a Reuters report. Sanofi’s $ 38 offer represents a 30.4% premium to Translate Bio’s August 2 closing price of $ 29.15.

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