Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2521)	11/14/2010 11:01:05 PM
From: richardred	Read Replies (1) \| Respond to of 7252

Takeda Explored Possible Move For Genzyme, Unlikely To Bid -Sources By Gina Chon & The Wall Street Journal; gina.chon@wsj.com Published November 14, 2010 \| Dow Jones Newswires TOKYO -(Dow Jones)- Japan's Takeda Pharmaceutical Co. (4502.TO) has explored whether it wanted to pursue a possible acquisition of U.S. biotechnology company Genzyme Corp. (GENZ: 69.80 ,0.00 ,0.00%), but is unlikely to do so, according to people familiar with the matter. The interest from Japan's largest drug maker by revenue--which could yet come back to the table--came in the wake of Genzyme's decision in October to evaluate alternatives, including reaching out to other companies, as part of its defense against an $18.5 billion hostile bid from France's Sanofi-Aventis S.A. (SNY: 33.92 ,0.00 ,0.00%). Takeda officials in Tokyo declined to comment, citing company policy not to comment on press reports. Genzyme isn't actively soliciting a "white knight" to counter Sanofi's offer, but the board wants thorough information about its value in the market and know what its options are, people familiar with the matter said. U.S. companies Pfizer Inc. (PFE: 16.84 ,0.00 ,0.00%) and Johnson & Johnson (JNJ: 63.64 ,0.00 ,0.00%) are among the other firms that are considering whether to pursue Genzyme as a whole or some of its assets, people familiar with the matter said. The process is in the early stages and no decisions are imminent, they added. Sanofi has been pursuing Genzyme for several months but so far, the biotech firm has rejected its advances, saying Sanofi's offer of $69 a share is too low and undervalues Genzyme. Genzyme, which has suffered contamination problems that caused the shutdown of its main production facility, has been touting a turnaround and the potential success of its drug Campath, which Genzyme hopes will be effective in treating multiple sclerosis. --Kazuhiro Shimamura contributed to this article. Copyright © 2010 Dow Jones Newswires foxbusiness.com