Sanofi ‘Surprised’ By Revised Offer for Consumer Health Unit

Sanofi is surprised by an improved offer for its consumer health-care business, Opella, a spokesperson for the French company said.

• PAI Partners has submitted an improved offer for Sanofi’s consumer health business, people familiar with the matter said Thursday
  • Revised offer came after Sanofi agreed to sell controlling stake in Opella to CD&R
• Revised offer being made “outside the timeframe and the governance process that framed the decision,” spokesperson says
• All suitors had same amount of time to make their best bids: spokesperson
• Process for finding partner for Opella “has been a long one,” spokesperson says
• NOTE: CD&R Said to ...