03:41 PM EDT, 10/17/2024 (MT Newswires) -- Sanofi ( SNY ) has received an improved offer from PAI Partners for its consumer health division Opella, media reports said Thursday citing people familiar with the matter.

The French drugmaker said last week it was in talks with US private equity firm Clayton Dubilier & Rice to sell a controlling 50% stake in Opella. PAI Partners' US rival is still in discussions with Sanofi ( SNY ) and is intentioned to seal a deal in the coming days, Bloomberg said citing the people.

PAI Partners has increased its bid for Opella by about 200 million euros ($217 million) and offered to keep the operation's headquarters and other key sites in France, according to Bloomberg.

PAI's revised proposal, which is valid until Sunday evening, also includes a pledge to keep jobs through an investment of at least 60 million euros over five years, the report said.

French unions had called a strike at Sanofi ( SNY ) starting Thursday to protest the planned sale of Opella to Clayton Dubilier & Rice, Reuters reported Wednesday, citing a union official.

A Sanofi ( SNY ) spokesperson told MT Newswires that the company was "surprised" about a "revised offer" being made public through the media, after the company announced on Friday that it had selected a partner to continue negotiations. The announcement of the "improved offer" was made "outside the timeframe and the governance process that framed the decision," the spokesperson said in an email to MT Newswires.

PAI did not immediately reply to MT Newswires' request for comment, while Clayton Dubilier & Rice could not be reached.

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