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Both Sides Playing Hard To Get In Sanofi-Aventis And Genzyme Deal (SNY,GENZ,TOT,LRLCY)Aug 25, 2010 (SmarTrend News Watch via COMTEX) -- 8/25/2010-Despite calls for Genzyme (NASDAQ:GENZ) to hold out for on offer of at least $75 - $85 per share, sources told Bloomberg that Sanofi-Aventis (NYSE:SNY) was unlikely to go beyond its currently authorized $70, and it may look for other suitors. The Paris, France-based drugmaker's latest bid for Genzyme was for $69 per share, and its board has approved a limit of $70 per share. Sanofi's key shareholders, including Total (NYSE:TOT) and L'Oreal (PINK:LRLCY) are apparently maintaining their stance on not raising the offer for Genzyme and may look for alternative takeover targets. Furthermore, Genzyme's board said it may not be prudent to sell the company mid-turnaround. Sanofi's board would have to reconvene to approve a price higher than $70 a share for Genzyme, another person familiar with the matter said. SmarTrend is bullish on shares of Genzyme and our subscribers were alerted to buy on July 23, 2010 at $60.20. The stock has risen 11.7% since the alert was issued. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup |