Sanofi Goes Hostile on Genzyme

Includes: SNY
by: Derek Lowe

As of Monday morning. It looks like they were getting nowhere with Genzyme's (GENZ) board, so they're taking their same $69/share offer directly to the shareholders.

I'm not sure if that's going to be enough for them, but I presume that Sanofi-Aventis (NYSE:SNY) has already sounded out some of the institutional investors before going ahead. This isn't one of those questions you ask unless you're reasonably sure of the answer. But hostile bids do fail (or get their terms sweetened along the way). We've got until midnight, December 10, which is a long enough window for a lot of things to happen. Plenty of time to get some popcorn and find a good seat..