Monday, August 30, 2010

Sanofi Aventis receives no from Genzyme for first offer

Forbes shares that the first attempt for Sanofi Aventis, a bid of $18.5 billion, was rejected by Genzyme. Genzyme believes that the company should be valued at a much higher price. The bid from Sanofi Aventis has been expected. Genzyme is facing a few manufacturing issues when inspectors found particles of trash and other particles in the medication manufactured at several plants. Stock prices of Genzyme, however, continue to rise today, showing that investors believe that Sanofi Aventis will come back with a higher bid.

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