Genzyme is displaying fresh signs that it won't give up on its bid to acquire AnorMED. AnorMED says that Genzyme has signaled its interest in upping its bid past the $12 a share offer from Millennium. And having triggered a bidding war, AnorMED has indicated that its interest now is in boosting shareholder value and notes that Millennium will have a chance to counter any sweetened offer made by Genzyme. Genzyme set off the bidding war with its offer to buy AnorMED for $8.55 a share, a move that was quickly spurned by AnorMED.
- here's the report on Genzyme from CBC
AnorMed rejects Genzyme takeover bid. Report
Genzyme to pursue rare hostile biotech bid. Report
Millennium to buy AnorMed for $515M. Report