Breaking News - Sanofi to Buy Genzyme in $18.5bln Offer

French pharmaceutical company, Sanofi-Aventis SA, has made public its $18.5 billion takeover offer for US-based Genzyme Corporation. Genzyme shares have already jumped in the recent month on takeover speculation, and at the same time Sanofi has been knocked down to yearly lows. Generic drug companes have been putting heavy pressure on sales of the French pharmaceutical company, creating the need for it to diversify its business. The deal is quite likely, but it is possible that Genzyme will refuse the offer, as its shares have traded higher in the recent past.