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.
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.