Henri Termeer, chairman and chief executive of the American biotech company Genzyme, told Le Figaro in an interview that while he was not against Sanofi-Aventis’s $18.5 billion takeover offer in principle, he thinks it should be higher. Newcomers among Genzyme shareholders, he said, had bought in at $70 to $72 per share, already above the [...]
Sanofi-Aventis, after reporting strong third-quarter earnings on Thursday, reiterated that it believed its $18.5 billion hostile takeover bid for the American biotechnology firm Genzyme represented good value. In a conference call on Thursday with reporters to discuss Sanofi’s earnings, the chief executive, Christopher Viehbacher, defended the offer, which Genzyme has said is undervalued, The Associated [...]
Andrew Pollack, a DealBook colleague, reports: Seeking to fend off a hostile takeover bid by Sanofi-Aventis, the biotechnolgy company Genzyme argued strenuously on Friday that it was worth far more than the $18.5 billion that the French drug maker is offering. Genzyme told investors that its earnings next year would be much higher than Wall [...]
By MICHAEL J. de la MERCED Genzyme said Thursday that its board had again rejected an $18.5 billion hostile takeover offer from Sanofi-Aventis of France, saying the bid remains too low. Genzyme, one of the biggest players in the biopharmaceutical market, added in a regulatory filing that at a Sept. 20 meeting between the two [...]
If Genzyme is hoping for a private equity firm to ride to its rescue to help it fend off a $18.5 billion hostile bid from Sanofi-Aventis, it may find itself very disappointed, Fortune’s Dan Primack says. While the role of white knight is a familiar one for buyout firms, this is one deal that won’t [...]
In announcing that Sanofi-Aventis was taking its $18.5 billion bid for Genzyme directly to shareholders, Sanofi’s chief executive wants one thing. A number. Christopher Viehbacher, above, the Sanofi chief, told DealBook in an interview on Monday that while Genzyme’s chief executive, Henri Termeer, had repeatedly said the $69-a-share offer was too low, he had given [...]
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