Sanofi Denies It Offered Genzyme a Price Range

Oct. 8 (Bloomberg) -- Sanofi-Aventis SA denied that it offered Genzyme Corp. a price range in a Sept. 20 meeting between the chief executives of the companies.

“We offered no price range,” Jean-Marc Podvin, a spokesman for Paris-based Sanofi, said in a statement read by telephone today.

Sanofi Chief Executive Officer Chris Viehbacher provided a possible price range of $69 a share to $80 a share to buy Genzyme at the meeting with Henri Termeer, who declined to agree to the range, Cambridge, Massachusetts-based Genzyme said in a regulatory filing yesterday.

“We strongly disagree with Genzyme’s characterization of the Sept. 20 meeting between our CEOs,” Podvin said. “At that meeting we made a variety of efforts to move the process forward, including discussing the merits of our $69-per-share offer and trying to understand if media reports about Genzyme’s price expectations were accurate,” he said.

“We offered no price range and Genzyme continued to refuse to engage with us on valuation,” Podvin added.