Sanofi to make formal Genzyme bid-source
PHILADELPHIA, July 28 |
PHILADELPHIA, July 28 (Reuters) - Sanofi-Aventis (SASY.PA) plans to press ahead with a formal offer for Genzyme GENZ.O after its informal overture failed to strike interest, a source familiar with the situation said on Wednesday.
The board of Sanofi met in Paris on Wednesday and voted to make a formal offer for Genzyme, though the details of the offer were not immediately available.
Sanofi and Genzyme could not be immediately reached for comment. (Reporting by Jessica Hall) (For more M&A news and our DealZone blog, go to here)
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