Biotechnology company Genzyme Corp. said today it rejected Sanofi-Aventis SA's $18.5 billion buyout offer because it undervalues the company.
August 30, 2010 at 12:00 AM
1 minute read
Biotechnology company Genzyme Corp. said Monday it rejected Sanofi-Aventis SA’s $18.5 billion buyout offer because it undervalues the company.
On Sunday, French drug developer Sanofi-Aventis offered $69 per share for Genzyme, which has been struggling in the aftermath of manufacturing problems for key drugs.
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