Genzyme Extends Offer for AnorMED Finance
The merging gold rush seems to be getting even crazier. Now Genzyme has extended their offer to buy AnorMED.
Genzyme Extends Deadline for Tender Offer to Acquire AnorMED Inc.: Financial News - Yahoo!
Finance
This is because Millenium has trumped Genzymes offer and there seems to be a bidding war going on for AnorMED.
Millennium offer beats Genzyme’s
Millenium Beats Genzyme, Gets AnorMED’s Stem Cell Drug: Financial News - Yahoo! Finance
And Anormed’s board is supporting Millenium’s bid whereas Genzyme was a attempted hostile acquisition.
ANORMED BOARD RECOMMENDS THAT SHAREHOLDERS ACCEPT MILLENNIUM OFFER
So this is definitely one to keep an eye on. I really think that the price for AnorMED is going to be too high and whoever ends up with them, will end up paying too much. Just my guess but a lot depends on how much risk the acquirer wants to take on in regards to the profitability of MOZOBIL, a stem cell mobilizer which stimulates stems cells out of the bone marrow and into the blood in circulating.
Technorati Tags: Anormed, Genzyme, Millenium, pharma M&A, pharmaceutical deals
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