Two interesting bids on the billboard II
The story of Sanofi-Aventis ' hostile bid for Genzyme Corp continues, Chief Executive Henri Termeer said he is willing to sell the company he built up over 25 years, but not for $69 a share. In an interview with Reuters , Termeer said it was unlikely that French drugmaker Sanofi-Aventis SA would go hostile with its $18.5 billion bid and that the two sides had a good chance of coming to terms, though negotiations could last months. On Monday, the Cambridge, Massachusetts-based biotech company rejected Sanofi's bid of $69 a share. Sanofi has hinted it may take its offer directly to Genzyme shareholders if the company refuses to enter discussions based on its current offer. Genzyme, in turn, is working its way through a manufacturing crisis that has lead to shortages of two of its biggest-selling products. Genzyme shares closed at $70.11 on Tuesday. Investors and industry analysts polled by Reuters have said a deal could be clinched at close to $78 per share....