Genzyme, Sanofi-Aventis butt heads over buyout price

By Julie M. Donnelly

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Sanofi-Aventis is not willing to pay more than $70 per share for Genzyme Corp., Bloomberg news is reporting, citing unidentified sources.

French drugmaker Sanofi has reportedly made a bid of $69 per Genzyme share. Cambridge-based Genzyme is reportedly seeking a price closer to $80 per share.

The Bloomberg report said that Sanofi may reopen consideration of other acquisition targets, including Allergan Inc. in California or New Jersey-based Celgene Corp.

Sanofi CEO Chris Viehbacher said several weeks ago that the company was in the market for a $20 billion purchase. Since then, rumors centered around a number of potential targets, including Cambridge-based Biogen Idec., before Sanofi reportedly settled on Genzyme.

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