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

Partner Eric Cafritz quoted, The New York Times, "Aventis Outlines Its Case for Spurning Sanofi Bid"

An article in the April 6th New York Times entitled "Aventis Outlines Its Case for Spurning Sanofi Bid" notes that "Aventis outlined its resistance to a takeover from Sanofi-Synthélabo on Monday, saying it would press its case with the French and German governments and defending its use of warrants....Aventis announced the warrants plan on Friday. The warrants could be converted into new shares, increasing the shares outstanding by 22 percent, if Sanofi loses the patent on its top-selling product, the blood-thinning drug Plavix. 'The warrant issue is structured thoughtfully,' said Eric Cafritz, a partner with Fried, Frank, Harris, Shriver & Jacobson [LLP] in Paris. 'It is tied to a legitimate concern for Aventis,' and it will be hard for Sanofi to argue that the warrants are unfair, he said."

news-detail.inc