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Sanofi-Aventis pursues Genzyme in hostile takeover
NEW YORK French drug maker Sanofi-Aventis has launched a hostile takeover bid to take over Cambridge, Mass.-based biotech company Genzyme, according to published reports.
The Associated Press reported Monday that Sanofi would try to acquire the company for $18.5 billion, or $69 per share. Genzyme previously had rejected Sanofi’s friendly offer for the same amount.