Sanofi goes hostile with Genzyme bid

first_img Sanofi goes hostile with Genzyme bid whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPuffer fish snaps a selfie with lucky divernypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com French drugmaker Sanofi-Aventis yesterday carried through with its threat of launching a hostile bid for rival Genzyme.The firm has taken an offer of $69 (£44) a share directly to investors, valuing the firm at $18.5bn, after Genzyme management refused to negotiate.The move comes a month after Genzyme rebuffed an approach from Sanofi at the same price. Sanofi has since been talking to Genzyme investors, who it said were frustrated by the management’s stubborn approach.Sanofi’s unsolicited offer, all in cash, will expire on 10 December.Sanofi chief executive Chris Viehbacher said: “Sanofi-Aventis has a history of being a patient, disciplined buyer. We believe the offer will be successful ultimately.”Viehbacher, who wants to buy Genzyme to boost Sanofi’s drug portfolio as sales of older medicines decline, said his strong preference was for friendly talks, but he had decided to start a tender offer because of Genzyme’s refusal to enter discussions. Viehbacher said he met with Genzyme chief executive Henri Termeer but the talks were “unproductive”. Sanofi says it has also talked with Genzyme shareholders who own more than 50 per cent of the group, and these people support the bid. Share Monday 4 October 2010 9:14 pm whatsapp Show Comments ▼ Tags: NULL KCS-content last_img read more