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Sanofi's offer for Genzyme unchanged
By Nina Sovich |
September 28, 2010, Tuesday
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SANOFI-AVENTIS has not changed its offer of US$69 per share for drug maker Genzyme, a Sanofi spokesman said yesterday, declining to comment on a report that it had lined up more financing for its bid.
"We have one offer at $69. No other offer has been made ... We would like to enter into a dialogue," said Sanofi spokesman Jean-Marc Podvin. He declined to comment on a Wall Street Journal report released over the weekend that said Sanofi-Aventis had lined up more financing from Citigroup and Bank of America Corp. Sanofi has said it already has financing from J.P. Morgan Chase & Co, BNP Paribas SA and Societe Generale SA.
The French drug maker wants to reach a friendly agreement but has not ruled out a hostile offer made directly to Genzyme shareholders, sources previously told Reuters. Last month, Genzyme rejected Sanofi's offer as dramatically undervaluing the company.
"We have one offer at $69. No other offer has been made ... We would like to enter into a dialogue," said Sanofi spokesman Jean-Marc Podvin. He declined to comment on a Wall Street Journal report released over the weekend that said Sanofi-Aventis had lined up more financing from Citigroup and Bank of America Corp. Sanofi has said it already has financing from J.P. Morgan Chase & Co, BNP Paribas SA and Societe Generale SA.
The French drug maker wants to reach a friendly agreement but has not ruled out a hostile offer made directly to Genzyme shareholders, sources previously told Reuters. Last month, Genzyme rejected Sanofi's offer as dramatically undervaluing the company.
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