Sunday, September 26, 2010

Sanofi-Aventis Getting Ready for Genzyme

Today, the Wall Street Journal is reporting that Sanofi-Aventis (Ticker: SNY) has approached Citigroup (Ticker: C) and Bank of America (Ticker: BAC) for additional financing for the acquisition of Genzyme (Ticker: GENZ). This is a smart move by Sanofi-Aventis as it prevents other potential bidders from using these banks for financing. I believe Sanofi-Aventis is close to making a move on Genzyme. If they don’t hear from Genzyme soon, they will probably strike right after Genzyme’s Q3 earnings report, which is scheduled for release on October 20th. This should provide enough info for Sanofi-Aventis to go hostile.


Post a Comment

<< Home