AnorMED gives Genzyme bid thumb's up

The bidding war for Canada's AnorMED is far from over. The company 's board announced that Genzyme's sweetened offer of $13.50 a share--or $580 million--was superior to Millennium's bid. AnorMED gave Millennium three days to match or beat the Genzyme bid. If it does, AnorMED says they'll go with Millennium. If it doesn't, AnorMED will sign on to Genzyme's offer. Genzyme got the bidding war going with its unsolicited offer of $380 million.

- check out the AFX report on the back and forth

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