Sources say Sanofi's board will mull higher bid for Genzyme

09/30/2010 | Wall Street Journal, The

Sanofi-Aventis' board will hold a meeting in a few days to decide if it will increase its $69-per-share offer for Genzyme, sources said. Most directors on Sanofi's board believe that increasing the offer will grant the company access to Genzyme's books and allow for due diligence. Meanwhile, a spokesman for the Paris-based company said Sanofi so far has stuck to its original offer of $18.5 billion in cash.

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