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Strategies & Market Trends : Speculating in Takeover Targets

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From: richardred	7/23/2010 3:54:39 PM
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Will Sanofi-Aventis Seek Hostile Takeover of Genyzme? Published: Friday, 23 Jul 2010 \| 2:33 PM ET Text Size By: David Faber CNBC Anchor and Reporter Sanofi-Aventis, the very large French pharmaceutical company, made an informal acquisition approach to Genzyme. That approach was essentially rebuffed and not met with any significant talks, according to people familiar with the matter. However, especially in recent days, talks have been heating up about whether Sanofi [SNY 29.235 -1.405 (-4.59%) ] will follow-up with a hostile bid for Genzyme [GENZ 62.25 8.08 (+14.92%) ]. Before the markets opened on Wednesday, Genzyme reported below-expectation second-quarter results and reduced full-year guidance. Revenue for 2010 is expected to range between $4.410 billion and $4.510 billion, versus the previous guidance range of $5.23 billion-$5.53 billion. At this time it is unclear what price this would be. But just last month it was reported that Sanofi-Aventis was planing a major U.S. acquisition—possibly worth $20 billion or more. We will keep you posted as more information becomes available. cnbc.com\|headline\|q

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