Just a quick update from Bloomberg via PharmaGossip. According to the French daily Le Figaro, Sanofi appears ready to raise its cash bid from $69 per share to $71 per share for Genzyme.
PharmaGossip: Sanofi May Lift Cash Portion of Genzyme Bid to as Much as $71, Figaro Says - Bloomberg.
It will likely target another $5 per share value for the CVR portion of the bid to bring the total bid price to neighborhood of $76 per share. At that price, it is expected that the deal can be accomplished according to unnamed sources.
Posted by Bruce Lehr Jan 14th 2011.
Commentary on latest rumors from the Pharma Tech Talk blog (Jan 14th)
http://blog.pharmtech.com/2011/01/14/the-latest-sanofigenzyme-rumours/
Posted by: bigredbruce | 01/14/2011 at 10:25 AM
More details from this story emerge in the Fierce Biotech report today (Jan 14th)
http://www.fiercebiotech.com/story/report-sanofi-readies-20b-deal-package-genzyme/2011-01-14?utm_medium=rss&utm_source=rss
Posted by: bigredbruce | 01/14/2011 at 10:14 AM