SANOFI and Boehringer Ingelheim (BI) announced Dec. 15 that they have entered into exclusive negotiations to swap certain businesses.
The proposed transaction would consist of an exchange of Sanofi's animal health business Merial, with an enterprise value of 11.4 billion euros, and BI's consumer health care (CHC) business — excluding the CHC business in China — with an enterprise value of 6.7 billion euros. The
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