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25 Jan 2011

Sanofi Extends Genzyme Offer to mid-Feb

Sanofi-Aventis has extended its $18.5 billion takeover offer for biotech drugmaker Genzyme Corp.

Sanofi once again has had to extend its $18.5 billion bid for Genzyme. The latest expiration date for the $69-per-share offer is Feb. 15.


"Sanofi -Aventis and Genzyme are engaged in discussions regarding the structure of a contingent value right involving Lemtrada (alemtuzumab MS) as an element of any potential transaction," the company says in a statement. "There remain significant differences on the potential C.V.R. and the value of Sanofi-Aventis's offer, and there is no guarantee that the parties will come to an agreement."

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