Tags: EU | Sanofi | Aventis | Genzyme

Sanofi Shares Fall on Reported $18 Billion Bid for Genzyme

Tuesday, 03 Aug 2010 06:53 AM

Shares in Sanofi-Aventis SA are trading near a low for the year amid new reports that the French pharmaceutical giant is close to launching an $18 billion takeover offer for U.S. biotechnology firm Genzyme Corp.

Around midday Tuesday Sanofi-Aventis shares were unchanged at 45.40 euros ($59.35). The stock has fallen nearly 6 percent over the last month since speculation emerged that Sanofi-Aventis was eyeing Cambridge, Mass.-based Genzyme, maker of the Cerezyme and Fabrazyme drugs to treat genetic diseases.

Earlier Tuesday the Wall Street Journal reported that Sanofi-Aventis had sent a letter to Genzyme detailing an offer of $69 a share, which would value the company at $18.4 billion.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Companies
Shares in Sanofi-Aventis SA are trading near a low for the year amid new reports that the French pharmaceutical giant is close to launching an $18 billion takeover offer for U.S. biotechnology firm Genzyme Corp.Around midday Tuesday Sanofi-Aventis shares were unchanged at...
EU,Sanofi,Aventis,Genzyme
108
2010-53-03
Tuesday, 03 Aug 2010 06:53 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved