Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Sanofi Goes Hostile With Genzyme Offer

by Marc S. Reisch
October 11, 2010 | A version of this story appeared in Volume 88, Issue 41

Ratcheting up the pressure on Genzyme management to agree to an $18.5 billion acquisition offer, French pharmaceutical giant Sanofi-Aventis says it now intends to file documents with the Securities & Exchange Commission initiating a tender offer for all outstanding shares of the biotechnology company. Sanofi originally made public unsuccessful efforts to discuss its bid with Genzyme management at the end of August and said it would take its offer directly to Genzyme shareholders (C&EN, Sept. 6, page 13). Its actions last week follow through on the threat. Genzyme urged shareholders to “take no action” on Sanofi’s renewed offer until it had a chance to review it. In late August, Genzyme called the earlier offer “opportunistic” and urged shareholders to reject it.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.