Sanofi Mulls Putting Cash Behind Interest In Buying L’Oreal’s Shares
This article was originally published in The Tan Sheet
Executive Summary
Sanofi has the cash to buy back about $12 billion of its shares currently owned by beauty firm L’Oreal, if those shares were up for sale, Sanofi CEO Viehbacher says. L’Oreal CEO Agon suggested in recent earnings call that the firm could seek cash for future deals through the sale of its 9% stake in Sanofi.
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