Genzyme lands $345M acquisition of Bioenvision

Tue, 23 Oct 2007 06:59:56 -0400

Genzyme is laying claim to the keys to Bioenvision after winning shareholders' approval of the $345 million buyout. SCO Capital Partners, which owns 13 percent of Bioenvision, had fought the deal, saying that the bid undervalued the company. That argument failed to sway a majority of shareholders, though, who are getting $5.60 a share. Genzyme walks away with all the rights to the cancer drug clofarabine, which it co-developed with Bioenvision.

- take a look at the release
- read the report from the International Herald Tribune

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