Chattem (NASDAQ:CHTT) Is The Top Stock Percentage Gainer

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Shares of Chattem Inc. (NASDAQ:CHTT) have soared over 32.77% to its new year’s high of $92.94 after Sanofi-Aventis SA (ADR) (NYSE:SNY)  said Monday that it has agreed to acquire Chattem Inc. for $1.9 billion in cash, or $93.50 a share. The price represents a 34% premium to Chatem's Friday closing price of $69.98 and a 44% premium to the average closing price over the last six months.

Chattem manufactures consumer healthcare products, toiletries and dietary supplements, with brands including Gold Bond, Icy Hot and ACT. Sanofi said the deal is expected to provide a boost to its earnings as early as year one. It added that Chattem Chairman and CEO Zan Guerry and other senior managers have agreed to lead Sanofi's U.S. consumer health division once the deal is completed.

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