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Zentiva shares jumps on Sanofi improved offer

Mon Sep 22, 2008 3:28am EDT

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PRAGUE, Sept 22 (Reuters) - Shares in Czech drugs maker Zentiva ZNTVsp.PR jumped more than 6 percent at the open on Monday, boosted by an improved takeover offer from Sanofi-Aventis (SASY.PA).

At 0721 GMT Zentiva shares were up 6.45 percent, outperforming Prague's main PX .PX index which gained 0.81 percent.

The French maker of patented drugs said it had raised its offer for the Czech company to 1,150 Czech crowns ($69.32) per share from 1,050 crowns.

This represents a premium of around 6 percent to Zentiva's closing share price of 1,085 crowns on Friday. (Reporting by Jana Mlcochova; editing by Sue Thomas)



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