Genzyme (GENZ +8.3%) is said to have rebuffed the takeover offer from Sanofi-Aventis (SNY...

|About: Sanofi (SNY)|By:, SA News Editor

Genzyme (GENZ +8.3%) is said to have rebuffed the takeover offer from Sanofi-Aventis (SNY +1.2%), apparently thinking it can hold out for a better offer. It's just a matter of time, one analyst says, “given that Genzyme has activists on its board, frustrated shareholders, and a management team generally perceived to be on thin ice."