Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, September 29, 2010

Sanofi to raise bid for Genzyme

It was reported Wednesday morning that Sanofi-Aventis is likely to raise its $18.5 Billion bid for Genzyme as soon as next week. They would need to raise their offer simply to match the current market price. Wall street analysts believe that Genzyme will receive an even higher bid from another company. "If Sanofi doesn't raise their bid soon, they may miss out on Genzyme" said Andy Kibbens (Co-CEO of "The Markets are Open")

Sanofi-Aventis is a pharmaceutical company focusing on vaccines and animal health products. Genzyme is a biotech company primarily focused on genetic disease disorders.