agreed to buy
for $93.50 a share, or $1.9 billion.
The transaction price is a premium of 34% over Chattem's closing stock price of $69.98 on Friday.
Chattem's brands include Gold Bond, Icy Hot, Selsun Blue and Unisom.
Sanofi-Aventis said Monday it also plans to seek to convert its antihistamine brand Allegra in the United States from a prescription medicine to an over-the-counter product. Chattem will assume responsibility for the Allegra brand once the conversion is completed.
-- Reported by Joseph Woelfel in New York.
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