Genzyme says will not revise offer price for Bioenvision

Thu Sep 27, 2007 8:56am EDT
 
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Sept 27 (Reuters) - Genzyme Corp. (GENZ.O) said it will not change its offer price of $5.60 a share for Bioenvision Inc. BIVN.O, as set forth in the merger agreement between the two companies.

Genzyme owns about 22 percent of Bioenvision's outstanding stock on an as-converted basis, including 100 percent of its preferred stock that carry some rights and privileges, it said in a regulatory filing.

The company said this was its best and final offer, noting that Clofarabine will not be approved in adult acute myeloid leukemia in the European Union until 2008, at the earliest. (Reporting by Sayantani Ghosh in Bangalore)

 

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