Partner Eric Cafritz quoted, <i>The New York Times</i>,

Partner Eric Cafritz quoted, The New York Times, "France Helped Broker Aventis-Sanofi Deal"

An article in the April 27th New York Times entitled "France Helped Broker Aventis-Sanofi Deal" noted that "[o]n the same day that the [French] finance ministry was playing peacemaker [by bringing together the chief executive officers of Aventis and Sanofi in a meeting], the French stock market regulator struck down an important part of Aventis's defense. The separate actions were enough to end a hostile standoff between Aventis and Sanofi and start a round of negotiations that led to a $65 billion deal...creating the world's largest drug maker....The combination of the finance minister's phone call and the market regulator's decision 'was a two-pronged attack on [prospective merger partner] Novartis,' said Eric Cafritz, a partner with the law firm Fried, Frank, Harris, Shriver & Jacobson in Paris.' The extraordinary role that the French government played in brokering the merger...raises questions about the merits of the deal and may chill deal making in France."

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