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M&A - Sanofi - Dynavax Technologies

Pharmaceutical company Sanofi has agreed to acquire Dynavax Technologies, a vaccines company with a marketed adult hepatitis B vaccine (HEPLISAV-B®) and a differentiated shingles vaccine candidate. Sanofi will commence a cash tender offer to acquire all outstanding shares of Dynavax for $15.50 per share in cash, for a total equity value of approximately $2.2 billion. Both companies are traded on the Nasdaq. The acquisition is expected to close in the first quarter of 2026.

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