Sanofi, Bioverativ Exit $12 Billion Merger Case for $84 Million

Sanofi SA affiliates will pay $84 million to exit investor litigation over claims they helped a billionaire hedge funder make tens of millions on insider trades by manipulating the $11.6 billion acquisition of Bioverativ Inc.

The investor leading the lawsuit in Delaware’s Chancery Court filed a letter to the case docket informing Vice Chancellor J. Travis Laster, who’s presiding over the dispute, that they’re finalizing a settlement with Sanofi, Bioverativ, and its former board members.

The deal doesn’t include Sarissa Capital Management LP or its chief, Alex Denner—a protege of legendary activist investor Carl Icahn—although Denner will ...