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

To: richardred who wrote (2545)	1/9/2011 11:21:48 AM
From: richardred	Respond to of 7252

Reports: Sanofi, Genzyme In Takeover Talks At Higher Offer Of $80/Share Date: 7 January 2011 (RTTNews) - French drug giant Sanofi-Aventis SA (SNY, SNYNF.PK) and Biotechnology company Genzyme Corp.(GENZ) are discussing ways to assemble a deal that would value Genzyme at $20.7 billion or $80 per share, according to media reports. Last month, Genzyme urged its shareholders to reject the Sanofi-Aventis' tender offer of $69 per share, after the offer period was extended by Sanofi-Aventis. Sanofi's tender offer for Genzyme expires on January 21. According to reports, financial advisers for the two companies are discussing contingent value right or CVR that would take the total Genzyme offer to around $80 per share if it meets certain milestones. Sanofi-Aventis reportedly projects the drug's MS revenue will register about $700 million a year. Genzyme, meanwhile, projects that sales for MS will reach $3.5 billion in 2017. Genzyme's shares closed down 17 cents to $71.39 on Friday on the Nasdaq. The stock is gaining $2.96 or 4.15% in after hours trading. SNY closed Friday's regular trading at $32.22, down $0.51 or 1.56%, on a volume of 1.92 million shares on the NYSE. In after hours, the stock further declined $0.02 or 0.06% to $32.20. stockmarketsreview.com