Genzyme takeover

Sanofi Denies Offering $69-$80 Price Range to Genzyme

There's a new plot twist in the takeover battle between French pharmaceutical giant Sanofi-Aventis and U.S. drugmaker Genzyme. A regulatory filing made by Genzyme on Thursday claims Sanofi may be willing to go much higher than its current $69 bid -- a claim the French company disputes.

Sanofi-Avenits Won't Boost Genzyme Bid

Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.

Multiple Suitors Could Be Looking to Buy Genzyme

Rumors are that Sanofi has proposed to buy Genzyme for $70 a share. But Sanofi isn't the only one looking to deal. Analysts believe the likes of Pfizer and the U.K. 's GlaxoSmithKline have expressed an interest, as well. And others could be considering a bid also.