Deals
Sanofi Says Genzyme Holders Want ‘Reasonable Price’
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Sanofi-Aventis SA Chief Executive Officer Chris Viehbacher, seeking support for his $18.5 billion bid for Genzyme Corp., said he met with investors who own more than 50 percent of the U.S. company and found they are willing to sell their shares at a reasonable price.
Viehbacher is lobbying shareholders after Genzyme’s board rejected the $69-a-share offer from Paris-based Sanofi as too low. He said today he doesn’t expect other bidders to emerge for the Cambridge, Massachusetts-based company, which is the world’s largest maker of drugs to treat rare genetic diseases.