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 [...]
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 [...]
Sanofi-Aventis is looking to line up additional financing as it mulls upping its bid for Genzyme, The Wall Street Journal reported, citing people familiar with the situation. The French drug giant has approached Citigroup and Bank of America about potentially ponying up funding for its bid for the U.S. biotech. However, a Sanofi spokesman told [...]
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