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Sanofi may soon sweeten bid for Genzyme

Posted on 27 September 2010

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The Wall Street Journal is reporting this morning that Sanofi-Aventis is raising some fresh cash as it ponders how it can best break the gridlock that has stymied its quest to acquire Genzyme.

Cambridge, MA-based Genzyme has publicly spurned Sanofi's only official bid of $69 a share--totaling $18.5 billion--which the biotech company says is so far from its true value that the board won't even meet with Sanofi to try and hammer out a deal.

Read the full story on Genzyme/Sanofi from WSJ

 

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