Sanofi has now acquired all outstanding shares, warrants and convertible bonds of Ablynx following the expiration of the Squeeze-out procedure
Sanofi and Ablynx have announced that Sanofi has now acquired all outstanding shares, warrants and convertible bonds of Ablynx following the expiration of the Squeeze-out procedure.
The Squeeze-out period commenced on 22 May, 2018, in accordance with applicable Belgian and US law, following the acquisition by Sanofi of more than 95% of the outstanding shares of Ablynx upon settlement of the initial acceptance period of its tender offer for Ablynx.
On 12 June, 2018, upon expiration of the Squeeze-out period, 2,893,201 shares (including 7,163 shares represented by ADSs) and 8 convertible bonds of Ablynx were tendered in the Squeeze-out.
The Securities tendered during the Squeeze-out period are expected to be settled on or about 19 June, 2018.
All shares (including all shares represented by ADSs) and all convertible bonds of Ablynx not tendered during the Squeeze-out are deemed transferred to Sanofi by operation of law.
The funds required for the payment of the price thereof are kept with the Bank for Official Deposits. The former Ablynx holders of these Securities retain the right to receive EUR 45.00 per share (or ADS) and EUR 393,700.78 per convertible bond.