Is Carl Icahn out to buy Genzyme?

Rebel investor Carl Icahn (photo) has bought a stake in Genzyme, spurring speculation that he may be preparing to give it the kind of bear hug witnessed by ImClone and Biogen Idec. Only weeks ago Icahn was credited with putting Biogen Idec, one of the biotech industry's biggest companies, into play. Now its investment firm has snapped up 1.5 million shares of the aggressive Genzyme, which has made billions on its reputation for designing new therapies for rare conditions. Icahn has always succeeded best by acquiring shares in companies that he feels are significantly undervalued, and finding one way or another to get the stock price up. For now, no one with either organization is talking--but you can expect plenty of speculation in the months ahead.

- check out the Boston Globe report

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