Sanofi once again extends $18.5B Genzyme bid

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So far a grand total of 0.4 percent of all of Genzyme's shares has been tendered under Sanofi's $69 bid for the company. And with both sides dug into positions separated by a deep disagreement over the value of the company and any contingent value rights that could be used to break the logjam, Sanofi once again has had to extend its $18.5 billion bid for the biotech. "Sanofi -Aventis and Genzyme are engaged in discussions regarding the structure of a contingent value right involving Lemtrada (alemtuzumab MS) as an element of any potential transaction," the company says in a statement. "There remain significant differences on the potential C.V.R. and the value of Sanofi-Aventis's offer, and there is no guarantee that the parties will come to an agreement." Sanofi release | Report

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