Jessica's Feed
Oct 4, 2010

Sanofi seen raising hostile bid, eventually

PHILADELPHIA (Reuters) – Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) finally made a hostile $18.5 billion tender offer for Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz), but it acknowledged that Genzyme’s willingness, and possibly a higher price, may be needed to succeed.

More than four months after first broaching the idea with Genzyme, French drugmaker Sanofi lost patience in trying to woo the U.S. biotech company to the negotiating table and took its offer directly to Genzyme shareholders.

Sep 23, 2010

Deals return in Q3, but outlook still cautious

PHILADELPHIA, Sept 24 (Reuters) – Buoyed by the busiest
August in more than a decade, global mergers and acquisitions
have risen 21 percent so far this year, with stable activity in
the United States and growth in emerging markets offsetting a
drop in European dealmaking.

A resurgence of strength in financing options and
substantial war chests have given corporate buyers the ability
to pursue deals that had been put on the back burner in the
first half of the year. Private equity firms also have returned
to the fold.

Aug 30, 2010

Sanofi makes $18.5 billion Genzyme offer public

PHILADELPHIA/PARIS (Reuters) – France’s Sanofi-Aventis on Sunday publicly disclosed its $18.5 billion, $69-per-share cash offer for Genzyme Corp in a bid to rouse shareholders after failing to engage the U.S. biotechnology company in merger talks.

Sanofi said it is considering all options to complete the transaction, hinting it would consider a hostile takeover bid.

Aug 29, 2010

Sanofi-Aventis makes $18.5 billion offer for Genzyme

PHILADELPHIA/PARIS (Reuters) – France’s Sanofi-Aventis on Sunday publicly disclosed its $18.5 billion, $69-per-share cash offer for Genzyme Corp in a bid to rouse shareholders after failing to engage the U.S. biotechnology company in merger talks.

Sanofi said it would consider all options to complete the transaction, hinting it would consider a hostile takeover bid.

Aug 29, 2010

Sanofi makes $69/share Genzyme offer public

PHILADELPHIA/PARIS, Aug 29 (Reuters) – France’s
Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) on Sunday publicly disclosed its $18.5
billion, $69-per-share cash offer for Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz) in
a bid to rouse shareholders after failing to engage the U.S.
biotechnology company in merger talks.

Sanofi said it would consider all options to complete the
transaction, hinting it would consider a hostile takeover bid.

Aug 13, 2010

Genzyme has little leverage to play hardball

PHILADELPHIA (Reuters) – Biotechnology company Genzyme Corp (GENZ.O: Quote, Profile, Research, Stock Buzz) may be holding out for more money from suitor Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz), but will find it difficult to persuade investors it is better off on its own.

France’s Sanofi has offered $69 a share, or $18.4 billion, for Genzyme, sources familiar with the process told Reuters nearly two weeks ago.

Aug 10, 2010

KKR to start fundraising in next few quarters

NEW YORK/PHILADELPHIA (Reuters) – Buyout firm Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it expects to start fundraising for its next private equity fund in the next few quarters.

Investors have anticipated that KKR would raise a new fund for more than a year, but don’t expect it to be close to the size of its previous global buyout fund — $18 billion raised in 2006. KKR has about $5 billion left to spend from that fund, it said on a conference call for analysts on Tuesday.

Aug 4, 2010

Dealtalk: Sanofi’s best bet still may be smaller deals

PHILADELPHIA/BOSTON (Reuters) – Sanofi-Aventis has grabbed the headlines with its $18.4 billion bid for Genzyme Corp, but the French drugmaker may be wiser to stick with smaller, bolt-on acquisitions.

Sanofi (SASY.PA: Quote, Profile, Research, Stock Buzz) is trying to balance the need for new areas of growth and the loss of key drug patents with its desire to remain disciplined in its purchases.

Aug 3, 2010

Sanofi’s best bet still may be smaller deals

PHILADELPHIA/BOSTON, Aug 3 (Reuters) – Sanofi-Aventis has
grabbed the headlines with its $18.4 billion bid for Genzyme
Corp, but the French drugmaker may be wiser to stick with
smaller, bolt-on acquisitions.

Sanofi (SASY.PA: Quote, Profile, Research, Stock Buzz) is trying to balance the need for new
areas of growth and the loss of key drug patents with its
desire to remain disciplined in its purchases.

Aug 2, 2010

Sanofi sends $69/share offer to Genzyme -sources

BOSTON/PHILADELPHIA, Aug 2 (Reuters) – Sanofi-Aventis
(SASY.PA: Quote, Profile, Research) sent a takeover proposal valued at about $18.4
billion, or $69 per share, to biotechnology company Genzyme
Corp (GENZ.O: Quote, Profile, Research) and the two sides are discussing the offer,
sources familiar with the situation said on Monday.

Sanofi’s board last week authorized the company to press
ahead with a formal offer for Genzyme worth up to $70 per
share, or $18.7 billion, sources told Reuters at the time.