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Report: Sanofi raises $71 offer with Genzyme

Posted on 09 September 2010

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It looks as if Sanofi-Aventis has made a concession.

After Genzyme's board and CEO Henri Termeer stiff-armed the French drugmaker's $69-per-share buyout bid--saying they were so insulted by the price, it hardly merited an answer--Sanofi has come back with a new, $71-per-share proposal. Sanofi's hoping that sweeter bid would get it in the door for "partial due diligence," DealReporter says.

Read the latest report on Sanofi/Genzyme at Reuters

 

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