Sanofi Aventis moves on Chattem

French pharmaceutical group Sanofi-Aventis on Monday formally launched its takeover bid worth about 1.9 billion dollars (1.3 billion euros) for US non-prescription drug company Chattem.

The offer, announced in December and approved by the board of Chattem, is for all of the shares in the target company, one of the leaders in the US market for non-prescription treatments.

The offer ends at midnight New York time (0500 GMT) on February 8, and is dependent on acceptance on behalf of a majority of ordinary shares and approval by regulators.

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