Basel, Switzerland-based Novartis (nyse: NVS - news - people ) issued a statement this morning confirming that ithas done detailed feasibility studies on a white knight bid for Aventis (nyse: AVE - news - people ), which is the target of a hostile takeover by Sanofi-Synthelabo (nyse: SNY - news - people ).
Ithas also commissioned a feasibility study into hosting the Men's EuroBasket tournament in either 2015 or 2017 as another sign of long-term commitment.