Tensions Simmer In Sanofi, Genzyme Bid Battle

Law360, New York (October 8, 2010, 6:47 PM EDT) -- A hostile-takeover battle between Sanofi-Aventis SA and Genzyme Corp. heated up Friday, with Sanofi slamming a claim by Genzyme that the French drugmaker's final $18.5 billion tender offer was considerably lower than a figure it had earlier floated.

In a U.S. Securities and Exchange Commission filing Thursday, Genzyme said Sanofi had discussed a range of prices per share in a meeting between the CEOs of the two companies Sept. 20. Genzyme said Sanofi CEO Chris Viehbacher floated prices up to $80 per share before commencing the...
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