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Genzyme wins bidding war for AnorMED

It looks like that Genzyme has won the battle to acquire Canada's AnorMed. AnorMed's board has approved Genzyme's offer of $13.50 a share, which values the company at $580 million. That's $200 million more than Genzyme first offered and significantly higher than the $515 million offered by Millennium Pharmaceuticals in a competing bid. Millennium has bowed out of the bidding, but says it's owed $19.5 million under the terms of its pact with AnorMED. The deal will net Genzyme AnorMed's …

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