Sanofi-Aventis extends Genzyme offer

Sanofi-Aventis extends Genzyme offer

An unfriendly offer for Genzyme Corp. is created by the French drugmaker, Sanofi-Aventis SA, extended the time limit for the U. S. biotechnology company's shareholders to caring their stock to Jan. 21.

Today the Paris-based company has alleged in a statement that today On Dec. 10 the offer will be finished of $69 a share, or about $18.5 billion. A tender of about 2.2 million shares or 0.9 percent of the stock outstanding is done by the midnight deadline.

Today an analyst, Eric Le Berrigaud at Raymond James in Paris, held in a telephone interview that the price can be known as a good is given to them and its doors to Sanofi will begin to open for Genzyme. A buy advice is provided to him on Sanofi shares.

The largest drugmaker, Sanofi took its proposal for Cambridge, Massachusetts-based Genzyme directly to shareholders on Oct. 4.

It was done after the offer was rejected by the Henri Termeer, the U. S. Company's chief executive officer due to too low and decline to negotiate. On Aug. 29 this proposal was made in open.


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