AnorMED accepts Genzyme's Offer of US $13.50 a Share - Pharmaceutical Technology

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AnorMED accepts Genzyme's Offer of US $13.50 a Share


ePT--the Electronic Newsletter of Pharmaceutical Technology

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Langley, BC, Canada (Oct. 10)—AnorMED Inc. (www.anormed.com) has determined that Genzyme’s (Cambridge, MA, www.genzyme.com) US $580 million offer to acquire all outstanding AnorMED shares at US $13.50 a share is a “superior proposal.” The offer is 12.5% more than that offered by Millennium Pharmaceuticals on September 26.

Genzyme will amend its tender offer to increase the price offered from US $8.55 per share to US $13.50 per share and to extend the expiry date to November 1, 2006. Millennium has three business days to make adjustments to its own offer if the company still wishes to pursue purchase of the outstanding shares.

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