Sanofi Extends Deadline for Genzyme Offer

12/13/10

The French drug giant Sanofi-Aventis is giving Cambridge, MA-based Genzyme’s (NASDAQ:GENZ) stockholders until January 21, or six more weeks, to accept its buyout offer of $69 per share, Reuters and other news outlets reported this morning. Sanofi’s previous deadline for its offer to acquire shares of Genzyme, the largest biotech company in Massachusetts, was last Friday. Genzyme has said Sanofi’s unsolicited $18.5 billion buyout offer undervalues the company and its pipeline of drugs.

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