Breaking News: Hostile Takeover Move on Genzyme

This article is more than 11 years old.

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.

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