Sanofi-Aventis extends offer for Genzyme again

FRENCH drugmaker Sanofi-Aventis extended its $18.5bn (£11.6bn) tender offer for US biotech Genzyme yesterday for a second time, as the companies continued talks.

Sanofi said 0.4 per cent of Genzyme’s shares were tendered by a Friday deadline, and that its $69 per share offer, which has been rejected by Genzyme, would now run until 15 February.

Genzyme said Sanofi’s bid was too low given it has been recovering from a manufacturing crisis.