Regulators have cleared Sanofi-Aventis’ $1.9 billion purchase of Chattanooga-based products maker Chattem Inc., the French drugmaker said today.
Sanofi-Aventis said a mandatory Federal Trade Commission review period has ended. The company agreed to buy Chattem in December for $93.50 per share, gaining products like Icy Hot pain relief creams and Selsun Blue shampoo. Sanofi-Aventis’ tender offer for Chattem shares is scheduled to expire Feb. 8.
Chattem’s marketing division will handle sales of Sanofi-Aventis’ allergy drug Allegra after the deal is complete.
See tomorrow’s Chattanooga Times Free Press for complete coverage.