Sanofi-Aventis completes tender offer for Chattem

PARIS A leading global pharmaceutical company has successfully completed its tender offer for all outstanding shares of common stock of a consumer healthcare products manufacturer.

Sanofi-Aventis' tender offer and withdrawal rights expired for Chattem expired Monday. All shares were validly tendered and have been accepted for purchase at the offer price of $93.50 per share.

The drug maker announced in January its tender offer for Chattem, maker of such products as Gold Bond and Selsun Blue. Sanofi-Aventis first expressed interest in Chattem Dec. 20.