Sanofi Bid to Acquire Genzyme Could Become Drawn-Out Process

Sanofi-Aventis’ proposed $18.5 billion acquisition of Genzyme would help turn around that company’s dogging manufacturing issues, add global expertise and handsomely reward Genzyme shareholders, according to Sanofi CEO Chris Viehbacher. But less than 24 hours after Sanofi’s $69 per-share offer was made public, Genzyme CEO Henri Termeer said his company’s board had rejected it as “an opportunistic proposal with an unrealistic starting price that dramatically undervalues our company.”
Drug Industry Daily