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France’s Rhone-Poulenc SA said Wednesday it will offer about $4.3 billion for the 31.9 percent of U.S. drugmaker Rhone-Poulenc Rorer Inc. it doesn’t already own.
The offer of $97 a share is $5 a share higher than a bid Rhone Poulenc put forth in June.
A special committee of Rhone-Poulenc Rorer had been unable to come to terms with its French parent over the bid for the outstanding shares of the U.S. division.
Shares of Collegeville, Pa.-based Rhone-Poulenc Rorer climbed 94 cents, to $96.06, on the New York Stock Exchange. The U.S. listed-shares of Rhone-Poulenc SA rose $1.37, to close at $40.94, on the NYSE.
