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September 10, 2010
Sanofi-Aventis: It's $69/Share, And That's Where It Stays
Despite a number of reports yesterday and over night that Sanofi-Aventis had raised their offer for Genzyme shares, they're saying now that they've done no such thing. It's the same $69/share offer that was made public, and they're apparently lobbying the larger Genzyme shareholders to make them see the wisdom of the offer.
So if it's not going to be a bidding war, then most of the interesting stuff is going to be taking place behind the scenes. Will some of the big investors decide that S-A's offer is better than trusting Genzyme's management? Or will hang with the current team? Or (most likely, in my opinion) will they make no commitments to anyone while they wait to see if the offer gets higher (after more pressure is applied)?
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