Sanofi bid $ 18.5 billion for Genzyme
Posted by adminThe leaders of the U.S. biotechnology group Genzyme had said they would not sell below $ 80 per share. Sanofi-Aventis announced Sunday it has nevertheless proposed a takeover offer for about $ 18.5 billion, or $ 69 per share, confirming persistent rumors since last July. This represents a premium of 38% over the closing price of 49.86 dollars per share of Genzyme July 1, just before it is affected by acquisition rumors, Sanofi said in a statement. The transaction would be solely in cash.
The French pharmaceutical group had remained silent since the leaks in the press last month about his interest in American business.The CEO of Sanofi-Aventis, Chris Viehbacher, confirmed to Le Figaro that the group would continue its acquisition policy.
A world leader in the development
The main shareholder of Sanofi-Aventis, L'Oréal and Total, is shown also booked on the takeover, fearing that the French pharmaceutical group pays its target too cher.Le board of the group had warned that he does not go beyond $ 70 per share. Analysts estimated the amount of money available for redemption at about 20 billion euros.
In a statement, Sanofi-Aventis said that "bringing the two companies would create a global leader in the development and availability of new treatments, bringing to each new significant growth opportunities."