Navigation Links
Sanofi-aventis Commences Tender Offer to Acquire All Outstanding Shares of Genzyme for $69 per Share in Cash
Date:10/4/2010

PARIS, Oct. 4 /PRNewswire-FirstCall/ -- Sanofi-aventis [(EURONEXT: SAN) and (NYSE: SNY)] announced today it has commenced a tender offer for all outstanding shares of common stock of Genzyme Corporation (Nasdaq: GENZ) for $69 per share, net to the seller in cash, without interest and less any required withholding taxes.  The transaction is valued at approximately $18.5 billion. The offer, which was unanimously approved by sanofi-aventis' Board of Directors, is scheduled to expire at 11:59 p.m., New York City time on December 10, 2010.

While sanofi-aventis' strong preference is to engage in constructive discussions with Genzyme, Genzyme's Board and management team's continued refusal to do so has led sanofi-aventis to commence the tender offer.  A meeting between the two CEOs on September 20, 2010, proved unproductive, despite several attempts by sanofi-aventis to advance discussions. Sanofi-aventis executives met recently with shareholders who collectively own more than 50 percent of Genzyme's outstanding shares. The conversations revealed that those shareholders were frustrated with Genzyme's persistent refusal to have meaningful discussions regarding sanofi-aventis' proposal.  Sanofi-aventis sent a letter to Genzyme's Board today informing it of the company's intention to commence the tender offer, a copy of which is included with this release.

"Sanofi-aventis is committed to a transaction with Genzyme, and we believe that our offer reflects both Genzyme's upside potential and its current operational challenges," said Christopher A. Viehbacher, Chief Executive Officer of sanofi-aventis. "Our strong preference has been and continues to be to work together constructively with the Genzyme Board to reach a mutually agreeable transaction, but our attempts to do so have been blocked at every turn.  Our recent meetings with Genzyme shareholders demonstr
'/>"/>

SOURCE sanofi-aventis
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7

Related medicine technology :

1. Vical Licensee Sanofi-aventis Initiates Phase 3 Trial to Reduce Amputations
2. Insulin Analogues From Novo Nordisk, Eli Lilly and Sanofi-Aventis Will Drive Growth in the Type 1 Diabetes Drug Market
3. Sanofi-aventis Stands Behind the Safety of Lantus(R)
4. Fovea Pharmaceuticals to be Acquired by sanofi-aventis
5. Sanofi-aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM-121, an Anti-ErbB3 Monoclonal Antibody
6. Prasco Enters into Agreements with sanofi-aventis U.S. to Provide Sales Support and Distribution Services for Authorized Generic Versions Under the Winthrop Label in U.S.
7. Sanofi-aventis Obtains Antitrust Clearance in Connection With Chattem, Inc. Tender Offer
8. Sanofi-aventis and Regeneron Expand Strategic Antibody Collaboration
9. Sanofi-aventis Commences Tender Offer for All Outstanding Shares of Chattem, Inc.
10. Sanofi-aventis to Acquire Chattem Inc., Creating a Strong U.S. Consumer Healthcare Platform
11. Sanofi-aventis: Multaq(R) Approved in the European Union for Patients With Atrial Fibrillation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/17/2014)... 17, 2014  Ameritox SM , the nation,s leader ... Thomas Smith , M.D., as Chief Medical Officer. ... offering scientific resources for healthcare providers, patients and managed ... positions at a variety of healthcare companies that have ... pain and behavioral health sides of Ameritox,s business. He ...
(Date:10/17/2014)... , Oct. 17, 2014   ndd Medical Technologies ... (PFT) employing precise ultrasound technology, announced that its EasyOne ... Nation Healthcare Center , a 140,000 square foot, 44-bed ... Oklahoma hospital serves a large number of ... Oklahoma and beyond. A portion of ...
(Date:10/17/2014)... Surgical Company (NASDAQ: STAA ), a leading developer, manufacturer ... eye, today announced that the Company will webcast its presentation ... a.m. CT at the American Academy of Ophthalmology (AAO) Annual ... Dr. Erik Mertens , Medical Director and founder of ... , will present his first cases with the new Preloaded ...
Breaking Medicine Technology:Ameritox Appoints New Chief Medical Officer 2EasyOne Pro Mobile Respiratory Testing from ndd Medical Technologies Chosen by Choctaw Nation 2STAAR Surgical to Webcast Investor Presentations at American Academy of Ophthalmology's Annual Meeting 2STAAR Surgical to Webcast Investor Presentations at American Academy of Ophthalmology's Annual Meeting 3
... 16 SuperGen Inc.,(Nasdaq: SUPG ), a ... commercialization of therapies for solid tumors and,hematological malignancies, ... at the 2008 AACR Annual Meeting that that ... that causes tumor regression in acute,myologenous leukemia (AML) ...
... a planned IND Filing for Novavax,s ... Seasonal Influenza Vaccine Candidate, ROCKVILLE, Md., ... that it has received positive results from an,immunogenicity study in ... findings will enable Novavax to,complete its planned investigational new drug ...
Cached Medicine Technology:SuperGen Identifies Lead PIM Kinase Inhibitor, SGI-1776, That Causes Tumor Regression in AML Xenograft Models 2Novavax Reports Positive Results from Preclinical Studies of its VLP-based Trivalent Seasonal Influenza Vaccine Candidate 2Novavax Reports Positive Results from Preclinical Studies of its VLP-based Trivalent Seasonal Influenza Vaccine Candidate 3
(Date:10/19/2014)... 20, 2014 Hastings and Hastings, a ... of service throughout the greater Phoenix area and across ... with regard to catastrophic automobile accidents. Statistics have indicated ... and throughout Arizona. As such, Hastings and Hastings has ... representation for those who have been injured through no ...
(Date:10/19/2014)... 2014 Dr. Babatunde Osotimehin, Executive Director ... of a ceasefire agreement that is expected to lead ... who were kidnapped from the north-eastern Nigerian town of ... long enough, and it is high time they are ... Osotimehin. , "We owe it to these girls to ...
(Date:10/19/2014)... Recently, Top10BestSEOHosting.com has unveiled its ... GoDaddy and HostMonster are the best VPS hosting ... Server) is the method of partitioning a physical ... has the appearance and capabilities of running on ... site pays close attention to VPS products and ...
(Date:10/19/2014)... Visual Impact Frequency Training - a ... to the public generating a frenzied buzz of ... community. The commotion surrounding the program's launch has ... an investigative review. , "Many gym-goers are familiar ... known as a training 'plateau' where they are ...
(Date:10/19/2014)... spondylitis is a systemic disease that causes inflammation ... have affected members of the ancient Egyptian royal ... Arthritis & Rheumatology , a journal of the ... finding instead a degenerative spinal condition called diffuse ... from the 18th to early 20th Dynasties. ...
Breaking Medicine News(10 mins):Health News:Hastings And Hastings Reports Record Demand In 2014 For Legal Representation With Regard To Catastrophic Automobile Accidents 2Health News:Hastings And Hastings Reports Record Demand In 2014 For Legal Representation With Regard To Catastrophic Automobile Accidents 3Health News:The Best VPS Hosting Suppliers In The Market Unveiled By Top10BestSEOHosting.com 2Health News:Visual Impact Frequency Training Review: Rusty Moore's Latest Fitness Guide Released 2Health News:Mummy remains refute antiquity of ankylosing spondylitis 2
... 5 Nine out of 10 women in,the United ... partner,experiences symptoms like fatigue, depressed mood and increased waistline ... testosterone, or Low T, according,to survey results announced today ... their husbands or boyfriends about making their health a,priority ...
... Jan. 5 Dental Network of America (DNoA) ... Philips Electronics North America Corporation (Philips), just signed ... to offer its "DNoA Preferred Network" dentists in ... discounts on their Sonicare(TM) product line."Partnering with Philips ...
... to reflexology and aromatherapy, as part of chair massage treatments in ... back the anecdotal evidence from stressful offices around the US. ... ... and Aromatherapy increase the positive impacts of chair massage in the ...
... Direct Nutritionals, LLC,the exclusive worldwide distributor of the ... loss system and hunger-controlling diet cookies and diet,shake ... completely redesigned,version of its web site with many ... http://www.CookieDiet.com ). Since its launch in ...
... a slowdown in several types of mental processing, which appears ... to new research. Given the sharp rise in new cases ... be living with mild but lasting deficits in their thought ... of Neuropsychology , which is published by the American ...
... , , SATURDAY, Jan. 3 (HealthDay News) -- If a ... week, you may have sinusitis, which often results from ... Americans develop sinusitis, which results in 18 million physician ... to the American Academy of Allergy, Asthma & Immunology. ...
Cached Medicine News:Health News:New Initiative Urges Women to Address Men's Health this New Year 2Health News:New Initiative Urges Women to Address Men's Health this New Year 3Health News:New Initiative Urges Women to Address Men's Health this New Year 4Health News:New Initiative Urges Women to Address Men's Health this New Year 5Health News:Dental Network of America and Philips Sign Agreement to Offer Sonicare Products to Dental Providers 2Health News:Workplace Creativity Activated by Reflexology, Chair Massage 2Health News:Workplace Creativity Activated by Reflexology, Chair Massage 3Health News:CookieDiet.com, the 100% New Dr. Siegal's COOKIE DIET Web Site, Debuts with Weight Loss Calculators and Worldwide Shipping 2Health News:CookieDiet.com, the 100% New Dr. Siegal's COOKIE DIET Web Site, Debuts with Weight Loss Calculators and Worldwide Shipping 3Health News:Adult-onset diabetes slows mental functioning in several ways, with deficits appearing early 2
... Biomedics EP is the first and only ... are just beginning to have difficulty reading ... ,While everyone wants to enjoy the best ... bifocals or reading glasses. Fortunately, Biomedics EPs ...
... table-mounted hip retractor system ... for total hip replacement. ... individual surgeon techniques on ... size. Hand-held retractors can ...
... gelatinase-associated lipocalin, lipocalin-2) is a new early ... renal failure with a >90% positive predictive ... urine, as early as 2 hours after ... diagnostic marker for acute renal failure. ,Quantitative ...
... neurosurgeon describes samples taken with,the new Compass ... a,cleaner cut and larger sample for histopathology. ... vacuum and cutting edge., Unique "O ring ... vacuum,in the needle so that suction concentrates ...
Medicine Products: