Sanofi-Aventis looks at big takeover of Genzyme: report

3rd August 2010, Comments 0 comments

French pharmaceutical group Sanofi-Aventis has begun talks with a view to paying more than 18.0 billion dollars for US biotechnology firm Genzyme, the Wall Street Journal reported on Tuesday.

Sanofi-Aventis had sent Genzyme a letter detailing the terms of a proposed friendly takeover at 69 dollars per share, totalling 18.4 billion dollars (13.95 billion euros), the newspaper said on its web site citing a source close to the matter.

The two companies were holding talks, the report said.

A spokesman for Sanofi-Aventis told AFP that the company did not comment on rumours.

The chief executive of Sanofi-Aventis, Chris Viehbacher, declined to comment last week when his company announced results, but did say that he was interested in takeover opportunities of about 20 billion dollars.

© 2010 AFP

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