Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Sanofi Aventis Announces $18.5 Billion Bid For Acquisition of Genzyme

|Includes: Sanofi (SNY)




Reported by: Eric, CRWE Newswire Middle East correspondent

Sanofi Aventis discloses its bid of $18.5 billion bid for acquisition American Biotechnology Firm Genzyme. Sanofi Aventis first contacted Genzyme in month July and started discussion for a friendly takeover of Genzyme by Sanofi but Genzyme showed less interest and under process. Negotiations were halted.

Sanofi’s chief executive offer Christopher A Viehbacher says in a letter to Genzyme CEO Henri Termeer, “We are disappointed that you rejected our proposal on August 11 without discussing its substance with us, our financial advisors finally met briefly on August 24, but the meeting simply served as further confirmation that as throughout you remain unwilling to have constructive discussions.”

As for the latest bid Sanofi offers to pay $69 cash for each share of Genzyme which shows premium of 38 percent over Genzyme’s share price before the gossips and speculation of possible takeover started in the stock market.

Many believe that Henri Termeer has asked for a higher bid from Sanofi Aventis to continue any further negotiations.

Genzyme Corporation (NASDAQ: GENZ) trading at $69.88 while total volume stands at 1.10 million shares on today’s trading session.




The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.


Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (OTCPK:CRWE) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (OTCPK:CRWE), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (OTCPK:CRWE) advertises for a particular client, Crown Equity Holdings Inc. (OTCPK:CRWE) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (OTCPK:CRWE), if paid in stock, can and may sell those securities during the advertising period.

Disclosure: GENZ; YHOO