Breaking News: Hostile Takeover Move on Genzyme

Sanofi Aventis SA, the French drug maker that wants to buy Genzyme Corp., said today that it is launching a hostile takeover battle for Cambridge-based Genzyme, the largest biotechnology company in Massachusetts.

Sanofi's latest bid does not raise the price of an earlier offer of $69 per share, which values Genzyme at $18.5 billion. Genzyme earlier rebuffed that price as undervaluing the company.

This program aired on October 4, 2010. The audio for this program is not available.

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Carey Goldberg Editor, CommonHealth
Carey Goldberg is the editor of WBUR's CommonHealth section.



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